Reid Hoffman, the founder of LinkedIn and now a partner at Greylock Ventures, says that he would invest in Facebook at an $80 billion valuation, although he says he doesn’t trade on the second market.
Hoffman has become one of the most successful angel investors in the tech community, with stakes in Facebook, Zynga, and (through Greylock) Groupon. One investment he missed, though, was Twitter.
On stage at the TechCrunch Disrupt conference, Mike Arrington asked Hoffman if he’d buy Twitter with an $8 billion valuation, and Hoffman dodged the question — “I have to check — I have a wealth manager now, you know.”
He also said he couldn’t comment on whether he’d invest in Dropbox at $5 billion, which suggests he’s already in.
But he was not ambigious about Facebook at $80 billion. “I would be a buyer,” he said.
Hoffman also said that he thinks Groupon will make it despite its current cash crunch and canceled IPO roadshow, and tried to clarify his statement of support for Arrington’s CrunchFund, in which Greylock is going to be an investor:
I actually didn’t invest because I thought there’d be privileged information rights, as much as because you yourself are a central figure in a lot of networks that are very valuable to early stage companies….Somewhere you have a lot of investors paying attention, you get natural dealflow….The same thing could be said for Y Combinator, although they use a different method.
Arrington also joked that Hoffman had asked him about how he’d handle the PR around the CrunchFund, and that Arrington thought it would die down in a few days. Not so much. As Arrington put it, “That’s what I’m down to–statements on f***king t-shirts. That and Twitter.”
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