Andrew: You had an idea that you had three features that you were going to launch with and one you still havent even launched. Net Worth: $2.1 Billion. Launched - May 5, 2003. Whats up? Having been instantly working as a comedian and podcaster over the years now, he has managed to accumulate good affluence in his career thus far. Plus when I have a celebrity like you on I want to make sure to have the full face on so people know Im really talking to the real guy. a family man), on his LinkedIn profile, which sounds an awful lot like a retirement job. But again, they sort of tricked people into inviting their friends and especially in the professional crowd that does not go over very well. If you have information about Konstantin's exact income and audience by country, please send us the necessary corrections. She worked up to VP of revenue and customer operations before being recruited by Anne Wojcicki to become COO ofWojcicki's genetics testing startup 23andMe in 2008, a job she left in 2010. Groupon did something completely different before theyre Groupon. But in the end, because wed just been burned through these virtual worlds, we werent sure how it was going to make money for sure. He used Shopify. But if one of your employees knows that thats usually important. We werent really sure, but mostly we were interested in what does the world need and why do other sites that exist, where did they fail if theyre going after the same thing because its very rarely that youre doing something completely new. I also have kids and theres lots of problems that you see as a parent and toys and kids. Thats very rare. Konstantin Guericke is a co-founder of LinkedIn, where he led the companys initial public launch to first six million members and profitability as Vice President of Marketing. In my example, for example, a lot of entrepreneurs say, How do you find the person who started a site similar to what youre thinking about 10 years ago burn through 20 million in venture funding? Thats a person you want to find and theres no better place to find that person because that person is on LinkedIn. No one has a proper understanding of Konstantin's actual net worth, but some have made predictions. Andrew: I see. Now when people try to use it for social purposes, often it doesnt. So we started with $49. The interview isnt just with an interesting person who did interesting things but you expressed those ideas well and you told those stories so well that I was just jealously hanging onto this interview as much as I could. Can you talk about it what was that other social network? But we didnt really seek a lot of press coverage because we felt the product is not that good yet. But much of LinkedIn's founding team came from SocialNet, including Vaillant. Business Data 130 Campus Dr, Edison, New Jersey, 08837-3936. I encourage entrepreneurs to think about is if you start this venture and you put four years into it and you just close it down how do you feel about that? And the searchers just contact very specific people. Now one way you can make a public request for it like in LinkedIn answers or you can seek out specifically. Konstantin Poukalov is also the EVP, CFO of Kadmon Holdings Inc and owns about 4,000 . Now this segment is pretty large; we dont probably cater too much to blue collar but white collar people we think our segment is about half a billion people so pretty good size but not as big as maybe some other sites that are just trying to do fun stuff. But other people would say, I tried Plaxo and I didnt like it. And so we basically then learned, Okay, this seems too much like Plaxo. So, we were always getting customer feedback in a very natural way and not just a random email over the transom but from people who we know. It's a steep price drop - when he moved out of the Arts and Crafts property in 2013 to return to Greece, he sold it for 9.8 million. In those walks, they took turns suggesting and knocking down business ideas. Im still an advisor, still helping the company but it was just time for me to do something new and I think most entrepreneurs they always have new ideas, they want to try out different things. News on all your favorite celebs, reality TV, and movies. February 29th, 2012. He stayed at the job 10 years, leaving in May of last year to officially join Box, although he'd already been acting as Box's technical adviser. Number of shares pre-offering: 14,047,978 Percent of total shares: 15.6% What they're worth*: $1,404,797,800 Computers, Internet, and Software My name is Andrew Warner. Reid Garrett Hoffman CBE (born August 5, 1967) is an American internet entrepreneur, venture capitalist, podcaster, and author.Hoffman was the co-founder and executive chairman of LinkedIn, a business-oriented social network used primarily for professional networking. as well as other partner offers and accept our, Meet the (soon-to-be) Facebook billionaires >>. So then we started with $49 and we really tried to promote and LinkedIn became better known that there are job listings. They had the reputation at that point. his net worth has been growing significantly in 2021-2022. I didnt do it to earn money. For example, when we launched we didnt show you how many degrees someone was away because we felt that was a privacy violation to show that this persons a friend of a friend. Part of it was driven by pictures that now people have because when SixDegrees existed there werent really digital cameras around very much. Now some information you get off of Google but the best informations really in peoples heads. Previously, Konstantin has been the CEO of jaxtr, a social communications start-up with over ten million registered users, and he also served on the boards of Rallypoint and Whitepages. The audio just cut out. 2 SlideShares 1 Clipboard 11 Followers 381 Followings. Now the thing we decided for LinkedIn is we wanted to be very clear that where were about is not the same as Friendster. And we can get click through rates around 20% often. If my friend knows a friend who knows a friend who knows a friend who knows that VC Im not going to send it out because itll be awkward traveling through three or four different people. When we launched we had the network logged to four degrees but over time we really learned that three degrees is what people feel most comfortable with. how much does TheCOUB - make. 6 %. Konstantin: So the first one was to create a profile for yourself and to be able to invite people to the site. I still think its a very interesting opportunity because often you do look for service providers and in fact thats one of the ideas when I started. And I would do that only because youre friends of mine, only because you specifically asked me and only because I think youre going somewhere. So I think a lot of service providers find the same thing, but it was always a very happenstance process. and M.S. He led the company's marketing activities from . So LinkedIn just generally had a better quality filter to it and also there were better tools to quickly zero in on which of the applicants you wanted to talk to. LinkedIn-Mitgrnder und Network-Profi Konstantin Guericke verrt, wie man Kontakte aufbaut - und was europische Grnder im Silicon Valley oft missverstehen. Its a very easy process; people often dont realize how easy it is. So I have a number of ideas and I think I have the ability to just try these out and well just see which one ends up being the one that my energies focus on most. They actually had really good functionality. Join now to see all activity Experience LinkedIn 20 years 3 months Co-Founder LinkedIn Nov 2002 - Present 20 years 3 months. And actually thats where a lot of ideas came from because my friends would give me feedback and Id ask them, Why havent you tried that? And I would see what kinds of things they didnt understand and I kind of took those emails and made them into marketing emails but they just sounded normal. Or for a conference [INAUDIBLE] LinkedIn is a good value. So for a lot of users, it was actually interesting, it was almost like a donation where they felt they owed LinkedIn something because theyd been using it for free for so long. But the thing is there are millions of them and most people go on a typical day just to seven websites. The founders invited 350 of their most important contacts to join the site, and by the end of the first month 4500 members joined up. People didnt even understand how LinkedIn worked. Select Material: 4x6 $15.00. Andrew: I love it. So if you see the initial coverage its not so much, Heres LinkedIn and the vision how its going to make money, but it was more, Look how this guy found this woman and it wasnt for a date, it was for a job. So it became a very personal story and just LinkedIn was the way to make it happen. Konstantin Guericke studied at Stanford University and Stanford University. Im so glad you let that phone ring or somebody else pick it up because and keep going because this has been a treat for me. Konstantin's Score is ( 6%) Above the National Average. But in terms of Plaxo, I think the issue was that they tried too hard to be viral and they ended up really turning some people off. Monthly Active Users - 774 million. Konstantin net worth for February 2023 - In all seriousness what are you up to now, what are you going to be doing next? So if you could convince that person that what failed for them then will work now and you get that person on your advisory board that will help you a great deal with fundraising because this person can say, Look. People who network think of LinkedIn as a networking event and they often get very frustrated when they see someone interesting saying, Id like to get to know you. Konstantin enjoys mentoring student and European entrepreneurs over walks and holds a B.S. It wasnt really clear we were going to start a company for sure together Maybe hed be an investor in one of my ideas. But Im also thinking about some other ideas as well. I could do that. I think you also got some press mentions early on. We built something very simple and always had a plan to do more of it and I think its one of these things we havent gotten around to. Youll hear all about them here, including why they intentionally targeted an audience that had money so they could generate revenue. He also remembers those early days at LinkedIn when the company met in Hoffman's apartment in downtown Mountain View. Here are the stats for the last two weeks, separated by days. I talked with Reid about it and he had some ideas of his own that kind of dovetailed with this. You could check out LinkedIn.com and see it.. Konstantin is a popular Entertainment channel on YouTube. Blue doesn't hold a major 5%+ stake in LinkedIn, according to recent SEC filings, but he did very well in LinkedIn's IPO in 2011, as you might imagine. So during lunch people would naturally give us feedback. If Konstantin makes on the higher end, ads could bring in up to $156.29 thousand a year. Previously, he has been CEO of jaxtr (social communications start-up, over ten million. I had not been CEO. Andrew: And it would kill the virality, if I understand you right, because if I see that 100 of my friends are already on LinkedIn why should I go and invite new people on LinkedIn? Kind of like the American system for vacation because most people get 10 days for vacation and Im more used to from Germany its six weeks. Youll hear us mention in this program a lot of social networks that flopped. And also I kind of wanted a self-updating address book because it was a real pain to keep in touch. Andrew: Can you please move your camera down a little bit? Konstantin: Beginning, in order to see the market, we gave away free job listings for a couple of months and lots of people took us up on it. Why dont I just connect with these 100 people and if I like it on then later maybe invite people? Konstantin: Yes and vice versa. Andrew: Whats a key way to do that? It started 9 years ago and has 198 uploaded videos. I understand you fight back and you rebel against that. I founded LinkedIn. Or do you just let someone else at the table say it? He says, "I tried to be a manager for a while, and I realized that it is not something I enjoy very much.". RallyPoint, the network where military service members and veterans come together, mentor, and discuss military life, announced today that Konstantin Guericke, Co-Founder of LinkedIn, will join . Innovative Systems Desi. And we kind of used that; we always looked for users where there was a success story and we then later proactively looked for people in LA where we had competition and Chicago where we didnt have competition but we wanted to make sure no professional network starts in Chicago or New York or in Atlanta so we specifically looked for success stories and really pitched the human story and the reporters would just mention it and it was much more credible. It failed. Konstantin: So when people read about all the privacywhy its a safe thing to do they would actually start being concerned about it. Videos on the channel are posted in the categories Lifestyle, Entertainment. Its a quiet, clean, well-lit place, not a lot of hassle, not a lot of fuss and it works. Edit Events Section. So, youve got to take those lessons and just because it didnt work in the past doesnt mean its not going to work now. Buying LinkedIn, Microsoft makes big bet on social data. 2003 is when LinkedIn first launched. I cant keep going. That was 20 minutes ago. This 'worth' of a customer can help determine many economic decisions for a company including marketing budget . And so, one of the first things we had to add to the search box, we had to add the name field so people could search for the people they know. Scott Edward Walker is the entrepreneurs law. Answer: Lucifer is one of various figures in folklore associated with the planet Venus The entity's name was subsequently absorbed into Christianity as a name for the devil Modern scholarship generally translates the term in the relevant Bible passage (Isaiah 14:12), where the Greek Septuagint re. It has attracted 1.17 million subscribers. But very often, actually when we tested it. It was a good learning opportunity. LinkedIn might have gotten screwed out of $130 million, but the early members all did pretty well for themselves. depending on the location and structure of its target audience, the number of subscribers it has, how often it posts videos and how many hours the videos are viewed. It is about your professional reputation, about making professional contacts. : #konstantin . When we look at the past 30 days, Konstantin's channel receives 1.45 million views each month and around 48.24 thousand views each day. Andrew: OK. Shopify Remember the interview I did about how the founder of DODOCase sold about $1 mil worth of iPad cases in a few months? How they insisted the site be useful more than fun, so it would become a necessity. Because a lot of the success isnt just about the workflow; it is understanding the psychology of people but just starting ventures in general thats a very creative process. So what I did is I looked at which of my connections stayed at one connection and which one had more than more connections. Konstantin: I think thats where persistence comes in. Theres seasonality in it and so forth. Come on join us. That was one of them. We basically waited till we had the Sequoia funding which was six months after launch. Stanford University BS Engineering 1990. You mentioned what you launched with but Im hearing it and I dont feel embarrassed at all to have profiles up and running, to have the ability to connect with people who you know. We wonder why arent there more things to do on there. LinkedIn went public in 2011 for $4 billion and was purchased by Microsoft in 2016 for $26 billion. You have a very small sales force. You may be asking: How much does Konstantin earn? So we always look at two things. Konstantin Guericke wurde bekannt als der Deutsche im Silicon Valley, als Web-2.0-Pionier und Mitbegrnder von Linkedin. Konstantin: There was very few that created a measurable spike. Before I ask you why you decided to include what you included in the subscriptions Ive got to ask why subscriptions in the first place instead of one off sales to people the way that you did jobs. And it did help having Sequoia backing it. Big question for today is how do you build a site that over 80 million business people become members of? Konstantin Guericke is an entrepreneur who was most recently CEO of jaxtr, a Palo Alto social communications start-up with over ten million registered users that was purchased by SabSe Technologies in June 2009. . Let me try it. But the great thing is it almost always works really well. Tell me what part of it in retrospect might have felt embarrassing or maybe at the time felt embarrassing? The net worth of Konstantin's channel through 3 Jan 2023. So those are some things that I think are underutilized but once people have that one experience where they try to solve a business problem with LinkedIn and it works they tend to become very loyal, very active and quite willing to pay. Ein eigenes Unternehmen grnden und damit reich werden - LinkedIn-Mitgrnder Konstantin Guericke hat das geschafft. 2023 GABA German American Business Association Registration and Refund Policy, GABA German American Business Association. I bliss out on reading about successful companies like LinkedIn and hearing what youve said in the past about how you grew the company. Andrew: How did you get so much press? He calls himself a Domestic Infrastructure Support Technician (i.e. sponsored content and product sales, which are not reflected in these numbers. And then over time when there were enough people on the site, when recruiters were on the site then I think people starting realizing, You know what? . We looked through the most recent SEC filing to see how much everyone's shares are worth. Konstantin: We had basically two very active user segments. Andrew: You also put a little note, or a little icon, next to every paid member, right? In fact it stuck around; when we launched we were the Friendster for business and three years later were the MySpace for business. In 2006 he left to become CEO of a telecom startup called Jaxtr, which was acquired by Sabse in 2009. And the networkers were also very active but they would just want to and enlarge their network. This was the really early days of the web. Now one thing we did, which were quite proud of, is when LinkedIn launched nobody knew it was going to launch. Konstantin's net worth may really be higher than $347.32 thousand. So what you did different from them was instead of being a novelty, you became a utility. On a personal level? Again, this feature in itself doesnt really give you growth because the other people are already on LinkedIn. But what only some percentage does is take the next step and solve an actual business problem and thats been a hard one for us to work on and the emails were one way we did that and that worked to some extent. It is an approximate forecast of how rich is Konstantin Solovyev and could vary in the range between $543.5K - $1.5M. Later when we did the colleague reconnect making it easy to reconnect with people you used to work for. co-founder of Linkedin, businessperson, technologist. And I got an email saying, These are people who you might know from Dale Carnegie. And basically what you guys did was pull other people who wrote Dale Carnegie and you let me connect with them with the idea that after I connected with those people who worked at Dale Carnegie and I say Great, LinkedIn just reintroduced me to old friends, I might also go out and reach out to other people at Dale Carnegie and say, Hey look, were all over here talking. Entertainment channel on YouTube people who you might know from Dale Carnegie move your camera down a little icon next. Kontakte aufbaut - und was europische Grnder im Silicon Valley, als Web-2.0-Pionier und Mitbegrnder von LinkedIn tried and! Of press coverage because we konstantin guericke net worth the product is not the same thing, but was... 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