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David Sacks

Occupation: entrepreneur, and investor in internet technology firms

Birthday:  May 25, 1972

Age: 49

Birthplace: Capetown, South Africa

Nationality: American

Birth Sign: Gemeni

OVERVIEW

David Oliver Sacks is an entrepreneur and investor in internet tech startups. He is general partner and co-founder of Craft Ventures. Previously, Sacks was the founding Chief Operating Officer and product lead of PayPal and founder/CEO of Yammer (which was acquired by Microsoft in 2012 for $1.2 billion). His angel investments include Facebook, Uber, SpaceX, Palantir Technologies, Airbnb and Houzz. He is also a co-host of the All-In podcast.

David Sacks CHILDHOOD & CAREER

Sacks was born in Cape Town, South Africa, and immigrated to Tennessee when he was five. Sacks knew as a kid he did not want to work a profession like his father, who was an endocrinologist. He took most of his inspiration from hisgrandfather, who started a candy factory in the 1920s.

Sacks earned his B.A. in economics from Stanford University in 1994 and received a J.D. from the University of Chicago Law School in 1998.

The Diversity Myth


In college, Sacks was the co-author – with Peter Thiel – of the 1995 book The Diversity Myth: ‘Multiculturalism’ and the Politics of Intolerance at Stanford.

PayPal


In 1999, Sacks left his job as a management consultant for McKinsey & Company to join PayPal, which was just started the year before by Peter Thiel.

During his tenure, PayPal grew payment volume from zero to $500,000 per month and revenue from zero to $240 million per year. The company also expanded into multiple currencies and over 80 countries.

Sacks is a member of the “PayPal Mafia”, a group of founders and early employees of PayPal who went on to found a series of other successful technology companies. They are often credited with inspiring Web 2.0.

Thank You for Smoking


Following PayPal’s acquisition, Sacks produced and financed the movie Thank You for Smoking through his independent production company, Room 9 Entertainment.

Geni.com
In 2006, Sacks founded Geni.com, a genealogy website that enables family members to collaboratively build an online family tree. The company was acquired by MyHeritage in 2012.

Yammer


In 2008, Yammer launched the first Enterprise Social Network, a secure solution for internal corporate communication and collaboration. According to Chamath’s Social Capital, Yammer’s viral approach made it one of the fastest-growing SaaS companies in history, surpassing eight million enterprise users in just four years. In July 2012, Microsoft acquired Yammer for $1.2 billion.

Zenefits

In 2014, Sacks made a “major investment” in Zenefits. In January 2016, Zenefits’ board asked him to step in as interim CEO.

Angel investments
Sacks has been investing in technology companies for twenty years and his investments include Affirm, Airbnb, Bird, Clutter, Eventbrite, Facebook, Gusto, Houzz, Intercom, Mixpanel, Opendoor, Palantir , PayPal, Postmates, ResearchGate, Scribd, Slack, SpaceX, Solana, Uber and Wish.

Craft Ventures

david-sacks Craft Ventures
In 2017, Sacks co-founded Craft Ventures and raised an initial fund of $350 million. Unicorns in Craft Ventures include Bird, BitGo, ClickUp, Pipe, Reddit, and SpaceX.

Net worth: $100 MILLION – $2 BILLION+

Low estimates put David Sacks’s net worth around the $100 million mark but it is likely much higher given his impressive list of investments in top companies like Uber, SpaceX, Bird, Reddit, Airbnb, Slack and many many others (see above)

David Sacks Favorite Books

David Sacks Homes

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