On the stage at TechCrunch Disrupt in San Francisco, Michael Arrington got LinkedIn’s Reid Hoffman to open up about his initial investment into social networking giant Facebook. Apparently it was $37,500 at a $5 million valuation. Talk about getting in on the ground floor:
Mobile is an innovation that needs to be solved given that it’s (Facebook) a billion users and a huge amount of time spent there. I’m very bullish on the prospects.
Regardless of any difficulties that Facebook has had with its IPO, it’s pretty obvious that Hoffman will make out well on the deal. He’s currently waiting on the lock-ups to pass.
In addition, Hoffman is discussing everything he’s done in the investment world, which of course comes on top of founding LinkedIn. He’s involved with Greylock Partners, the powerful VC firm, and he’s involved in the Hackfest, which just announced its second iteration today.
See what he had to say about Twitter’s API moves.