David O. Sacks

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David O. Sacks

Sacks in February 2011
Born David Oliver Sacks
(1972-05-25) May 25, 1972
Cape Town, South Africa
Education Stanford University and University of Chicago Law School
Occupation CEO of Yammer
Known for Former COO of PayPal
Spouse(s) Jacqueline Tortorice (m. 2007; 2 children)[1]

David Oliver Sacks[1] (May 25, 1972)[2] has been involved in the Internet space since the late ‘90s as an entrepreneur, executive and investor, most recently as chief executive officer and founder of Yammer.[3] As a result of Yammer’s acquisition by Microsoft in July 2012, he is now a corporate vice president in Microsoft’s Office Division.[4]

Personal life

Born in Cape Town, South Africa, Sacks immigrated with his family to the United States when he was 5 years old.[5]

On 7 July 2007, Sacks married Jacqueline Tortorice.[6] The couple has two daughters.

Education

Sacks attended the Memphis University School in Memphis, Tennessee. He 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.[7][8][9]

While at Stanford, Sacks co-wrote the book, “The Diversity Myth: Multiculturalism and the Politics of Intolerance at Stanford,” with classmate Peter Thiel.[10] He also served as editor of the Stanford Review, the conservative libertarian newspaper founded by Thiel.

Career

PayPal

In 1999, Sacks left his job as a management consultant for McKinsey & Company to join e-commerce service PayPal as its chief operating officer.[11]

In February 2002, PayPal went public, it was one of the first IPO after the September 11, 2001 attacks (ABCO went Public in November 2001). The stock rose more than 54% that first day and closed at $20.09.[12] In October 2002, eBay acquired PayPal for $1.5 billion.[13]

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 and for the re-emergence of consumer-focused Internet companies after the dot com bust of 2001.[14]

Thank You for Smoking

Following PayPal’s acquisition, Sacks moved to Hollywood where he produced and financed the hit movie Thank You For Smoking through his independent production company, Room 9 Entertainment.[15] The 2006 film won praise from film critics and was nominated for two Golden Globes.[16]

Geni.com

In 2006, Sacks founded Geni.com, a genealogy website that enables family members to collaboratively build an online family tree. At Geni, he wanted more visibility into what was going on across the organization, so the team created a productivity tool to help employees share information. In 2008, Sacks and co-founder Adam Pisoni spun this internal communications tool into a standalone company called Yammer.[17] Geni was acquired by MyHeritage in 2012,[18] and Sacks continues to serve on its board.[11]

Yammer

Yammer launched at TechCrunch50 in September 2008, winning the grand prize.[19] It is among the fastest growing enterprise software companies in history, exceeding over five million users in just four years. The company raised $142 million in venture funding from top tier firms and is used by more than 300,000 companies worldwide.[20]

In July 2012, Microsoft acquired the enterprise social network for $1.2 billion.[21]

Angel Investor

Sacks has made early-stage investments in numerous startups including Cherry, Circle Inc, Eventbrite, Mixpanel, OneLogin, Pocket Change, ResearchGate, Sofa Labs, Scribd, and Uber.[22]

Awards and recognition

  • San Francisco Business Times 40 Under 40, David Sacks (2012)[23]
  • Workforce Management Game Changers Award, David Sacks (2011)[24]
  • San Francisco Business Times Bay Area’s Most Admired CEOs (2011)[25]

References

  1. ↑ 1.0 1.1 "David Oliver Sacks". Geni.com. Retrieved 2011-02-17. 
  2. ↑ "Yammer's CEO Is About To Sell For $1 Billion To Microsoft, And Then Throw Himself An Over-The-Top Ridiculous Party". businessinsider.com. 14 June 2012. Retrieved 27 June 2012. 
  3. ↑ "Management - About Us". Yammer. Retrieved 2012-10-10. 
  4. ↑ Mullins, Robert. eWeek (2012-10-30) YamJam 2012 Is Yammer's Coming-Out Party as a Microsoft Unit
  5. ↑ Herel, Suzanne (2012-02-22). Meet the Boss, David Sacks CEO of Yammer
  6. ↑ "Jacqueline M. Sacks (Tortorice)". Geni.com. Retrieved 2011-02-17. 
  7. ↑ "PayPal: executive officers and directors". EDGAR. March 1, 2002. 
  8. ↑ "Management bios". Yammer. Retrieved February 17, 2011. 
  9. ↑ Davis, Joshua. University of Chicago Magazine ( Sept./Oct. 2007, Volume 100, Issue 1). Take 2.0
  10. ↑ Huwa, Kyle (2012-11-7) The Intellectual Force behind Web 2.0
  11. ↑ 11.0 11.1 Thomas, Owen. Business Insider (2012-06-25). Meet The Yammer CEO Who Just Made Hundreds Of Millions Of Dollars Selling To Microsoft
  12. ↑ Kane, Margaret. CNET (2002-02-15). PayPal shares make strong debut
  13. ↑ CNN Money (2002-07-080. eBay buys PayPal for $1.5B
  14. ↑ Banks, Marcus. San Francisco Chronicle. (2008-05-16). Nonfiction review: 'Once You're Lucky'
  15. ↑ Thomas, Owen. Business Insider (2012-06-25)/ Meet The Yammer CEO Who Just Made Hundreds Of Millions Of Dollars Selling To Microsoft
  16. ↑ Los Angeles Time The Envelope (2007). Globes scorecard
  17. ↑ Taylor, Colleen. TechCrunch. (2012-06-25). Memory Lane: Watch The Moment In 2008 When Yammer Launched As A Standalone Business
  18. ↑ Lynley, Matthew. Wall Street Journal (2012-11-28). MyHeritage Raises $25 Million, Aquires {sic} Geni
  19. ↑ Schonfeld, Erick. TechCrunch (2012-09-10). Yammer Takes Top Prize At TechCrunch50
  20. ↑ Hesseldahl, Arik. AllThingsD (2012-02-29). Yammer Lands $85 Million Funding Round From Draper Fisher Jurvetson
  21. ↑ Lardinois, Frederic. TechCrunch (2012-07-19). Microsoft Completes Its $1.2B Yammer Acquisition
  22. ↑ Rao, Leena. TechCrunch (2011-11-08). Max Levchin, Keith Rabois And David Sacks Back The Uber For Carwashes, Cherry
  23. ↑ San Francisco Business Times (2012-02-24). 40 Under 40
  24. ↑ Workforce Management (2011). Game Changers Award
  25. ↑ San Francisco Business Times (2011). Bay Area’s Most Admired CEOs

External links

Interviews

  • Corner Office: Fostering a Culture of Dissent. New York Times (July 16, 2011)
  • The Way I Work. Inc Magazine (November 2011)
  • Why The PayPal "Mafia" Was So Great: Yammer CEO David Sacks Explains. Business Insider (November 25, 2011)
  • Meet the Boss. San Francisco Chronicle (February 22, 2012)
  • Game Changers. TIME (March 30, 2012)
  • A Voice to Be Heard. Los Angeles Times (July 1, 2012)
  • VV Show #34 - David O. Sacks, Co-Founder of PayPal and Producer of Thank You For Smoking. Venture Voice
Individuals
Companies founded
or co-founded
Investments
Funds
Other
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