David Sacks - founder of Yammer (sold to Microsoft for $1.2B) and first COO at Paypal has joined our team as Chief Operating Officer!
TechCrunch covers the news nicely:
David Sacks is back up in the startup game. The founder of Yammer, who sold his company to Microsoft for $1.2 billion about two-and-a-half years ago, has decided he’s had enough time off and is joining fast-growing cloud HR startup Zenefits as its new COO.
Sacks has been a Valley mainstay for the last 15 years. He joined PayPal as its first COO in 1999, leaving his management consultant job at McKinsey to become a member of the PayPal Mafia. In 2006 he founded genealogy website Geni.com, which was sold to MyHeritage in 2012, but not before the company’s internal communications tool Yammer was spun out. And we all know how that turned out.
So if you’re Sacks and you sold your last company for more than a billion dollars, why do you join Zenefits? Or really, go back to work at all?
“There’s only so much poker I can play,” Sacks said in a phone interview.
More seriously, Sacks says he’s spent the last few years angel investing and even flirted with the idea of becoming a full-time VC. But when push came to shove, he realized what he really wanted to do was go back to working on companies and building things.
The new role at Zenefits will pose a unique challenge for Sacks. Unlike his previous startups, which he either founded himself or got it at the ground floor, Zenefits has also scaled pretty substantially over the past few years. Being a part of that hyper-growth environment is part of what excites him about joining the company.
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