David Sacks, General Partner, Craft Ventures, Former COO, PayPal

David Oliver Sacks is an entrepreneur, author, and investor in internet technology firms. He is general partner of Craft Ventures, a venture capital fund he co-founded in late 2017. Previously, Sacks was the founding COO and product leader of PayPal and founder/CEO of Yammer. In 2016, he became interim CEO of Zenefits for 10 months. In 2017, Sacks co-founded Craft Ventures, an early-stage venture fund. His angel investments include Facebook, Uber, SpaceX, Palantir Technologies, and Airbnb. He is a co-host of the podcast All-In.

I know when my company has closed a deal and when it hasn’t.

https://twitter.com/DavidSacks

2023

Mr. Sacks, a close friend of Elon Musk, is a Silicon Valley investor and entrepreneur who worked with Musk as an executive at PayPal, the digital payments startup that provided Musk with his initial income.

A reliable confidant during the ownership transfer, Mr. Sacks was one of the investors who helped Mr. Musk finance his $44 billion acquisition of Twitter last year, despite his denials of having a “official role.”

Additionally, according Florida campaign finance records, he is a Republican contributor who provided $50,000 to Mr. DeSantis’s state political committee prior to his reelection. He has given the governor a lot of credit, particularly for the way he handled the Florida coronavirus outbreak.

Latest news about David Sacks

• Crypto.com has partnered with PayPal and Paxos to expand its crypto offerings. The alliance aims to position Crypto.com as a preferred exchange platform for PayPal USD (PYUSD), solidifying the company’s role. Crypto.com has integrated PYUSD into its platform, catering to both retail and institutional users. The platform now asserts deepest liquidity for PYUSD trading pairs. The partnership builds on initial integrations between PayPal and Crypto.com, such as enabling the use of PayPal for topping up Crypto.com Visa Cards.
• PayPal has integrated its stablecoin, PYUSD, into the crypto industry, aiming to position it as a competitor and viable alternative to established stablecoins like USDT and USDC. PYUSD is designed as an ERC-20 token, aligning with the Ethereum network, and is compliant with U.S. regulations and New York’s Department of Financial Security (DFS). PayPal’s strategic move into the decentralized realm validates the growing importance of DeFi and suggests an interconnected financial ecosystem.

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