socialmedian: LinkedIn's Reid Hoffman Heads To Greylock Partners; Fund Raises $575 Million More

User-submitted headlines for this story

Clips

LinkedIn's Reid Hoffman Heads To Greylock Partners; Fund Raises $575 Million More

Source: paidContent.org

Nov 02, 2009

Summary

LinkedIn founder Reid Hoffman has joined Greylock Partners as an investing partner, and the VC firm—which currently backs Pandora and Israeli ad content-creator The Box, among others—has raised $575 million more for new investments. Greylock partner David Sze told VentureBeat that the firm had no trouble raising the new money, despite the lingering credit and cash crunch in the financial markets.

Hoffman has bounced around ever since he left his post as CEO of LinkedIn in 2007, partly because of his penchant for angel investing in multiple startups—including social media-messaging app Ping and mobile app developer Tiny Pictures. He returned to the top spot at LinkedIn after Dan Nye resigned last December, then moved into the role of chairman once Yahoo alum Jeff Weiner became CEO in June. Hoffman told VentureBeat that there were no worries at Greylock about his scattered interests, as he’d still be “massively focused” on LinkedIn, but also helping the firm with its “consumer Internet”-facing investments.