Keith Rabois Explained

Keith Rabois
Birth Date:17 March 1969
Birth Place:Edison, New Jersey, U.S.
Education:Stanford University (BA)
Harvard University (JD)
Occupation:Entrepreneur, Investor, Lawyer
Known For:PayPal, LinkedIn, Square, Opendoor, Yelp, Xoom, YouTube, Yammer, Palantir, Lyft, AirBnB, Eventbrite and Quora.
Spouse:Jacob Helberg

Keith Rabois (born March 17, 1969) is an American technology executive and investor. He is a managing director at Khosla Ventures. He was an early-stage startup investor, and executive, at PayPal, LinkedIn, Slide, and Square. Rabois invested in Yelp and the Xoom Corporation prior to each company's initial public offering (IPO). For both investments he insisted on being a board of directors member.[1]

Rabois is considered a member of the PayPal Mafia.[2] [3] [4] Rabois has been involved in investments in YouTube, Palantir Technologies, Lyft, Airbnb, Eventbrite, wish.com,[5] Relcy[6] and theorg.com.[7]

Early life and education

Rabois was born on March 17, 1969, and raised in Edison, New Jersey.[8] He studied political science as an undergraduate at Stanford University, receiving his B.A. in 1991 and a J.D. from Harvard Law School in 1994.[9] [10] While at Stanford, he became acquainted with Peter Thiel, then-editor and co-founder of The Stanford Review. Rabois later contributed to the libertarian newspaper.[11] Rabois was one of several students reprimanded for shouting homophobic slurs outside an instructor's home, including the suggestion that the instructor "die of AIDS." Rabois stated that the incident was designed to challenge Stanford's rules on student speech.[12] [13] [14] Thiel later defended Rabois in his book, The Diversity Myth: Multiculturalism and Political Intolerance on Campus.[15]

Career

Postgraduate

He clerked for the United States Court of Appeals for the Fifth Circuit for a year and worked at Sullivan & Cromwell for nearly four years.[16] In 1999, he was an adviser to Dan Quayle's presidential campaign.[17]

Information Technology

PayPal

Rabois was Executive Vice President, Business Development, Public Affairs, and Policy at PayPal from November 2000 to November 2002.[18]

LinkedIn

Between January 2005 and May 2007, Rabois worked at LinkedIn as its vice president for Business and Corporate Development.[18] LinkedIn was founded by Reid Hoffman, also a former employee at PayPal and a member of the PayPal Mafia.

Square

After some unsuccessful ventures, in 2010, Rabois joined Square, a company that provides an electronic payment service, as its Chief Operating Officer (COO).[3] [18]

Sexual harassment charge

Rabois left Square in January 2013 due to the threat of a lawsuit over sexual harassment accusations by an employee; Rabois claims that the relationship was consensual. A spokesperson from Square said in a statement that "Keith exercised poor judgment that ultimately undermined his ability to remain an effective leader at Square."[19] [20] [21]

Venture capital

Khosla Ventures

In March 2013, Rabois joined venture capital firm Khosla Ventures. Rabois left in 2019.[22] [23] In January 2015, Rabois joined the board of directors of Scribd as an observer after Khosla Ventures led a new investment round in the company.[24] Rabois returned to Khosla Ventures in January 2024 as one of five managing directors.[25]

Founders Fund

In 2019 Rabois left Khosla Ventures and joined Founders Fund as a general partner.[26] [27] [28]

In 2021 while at Founders Fund Rabois co-founded Miami-based OpenStore, a retail-holding startup that acquire brands in the Shopify ecosystem.[29] It raised $75 million at a $750 million valuation.[30]

Rabois left Founders Fund in January 2024 to rejoin Khosla Ventures, but continues to represent it on the boards of Ramp, Found, and Trade Republic.

Other ventures

Opendoor

In April 2014 Rabois co-founded Opendoor, a home buying and selling marketplace.[31] [32] [33]

Alliance of American Football

In March 2018 Rabois invested in the Alliance of American Football, along with Peter Thiel and Peter Chernin. He sat on the league's board of directors.[34]

Politics

In April 2013, a lobbying group called FWD.us was launched, with Rabois listed as one of a major contributor on the group's website.[35] In January 2020, Rabois stated that he would rather vote for Donald Trump than Bernie Sanders.[36] In 2019 Rabois also stated that Pete Buttigieg was his top choice for the Democratic ticket.[37] [38]

In 2023 Rabois praised the Parental Rights in Education Act law in Florida.[39] [40]

Personal life

In November 2015 Rabois purchased a house in Glen Park. He planned a renovation that included a new penthouse level, a basketball court, lockers and a sauna, but received pushback from six of his neighbors.[41] [42] [43] [44]

In 2018 Rabois married Jacob Helberg. The ceremony held in Saint Barthélemy was officiated by Sam Altman.[45] [46]

In November 2020 it was reported that he moved from California to Miami, Florida.[47]

Notes and References

  1. Web site: Xoom: Management: Executive Officers and Directors . 2013-01-11 . 2014-07-22 . 2014-09-24 . https://web.archive.org/web/20140924054557/http://www.sec.gov/Archives/edgar/data/1315657/000119312513010596/d364901ds1.htm#toc364901_11. live.
  2. Web site: Meet the PayPal mafia . 2014-07-22 . 2014-07-28. https://web.archive.org/web/20140728125129/http://archive.fortune.com/2007/11/13/magazines/fortune/paypal_mafia.fortune/index.htm. live.
  3. Web site: latimes.com . 24 August 2010 . 2012-01-09 . 2012-01-06 . https://web.archive.org/web/20120106200159/http://latimesblogs.latimes.com/technology/2010/08/square-hires-silicon-valley-veteran-investor-keith-rabois.html . live .
  4. Web site: gigaom.com . 2012-01-09 . 2020-10-27 . https://web.archive.org/web/20201027150540/https://gigaom.com/2009/12/04/l-a-s-new-take-on-car-culture-green-car-launchpad/ . live .
  5. Web site: Keith Rabois . Founders Fund . 31 October 2022.
  6. Web site: Relcy Emerges With $9M to Tackle Problem of Mobile Search . Gage, Deborah . Wall Street Journal. 2014-07-17 . live . https://web.archive.org/web/20171209113108/https://blogs.wsj.com/venturecapital/2014/07/17/relcy-emerges-with-9m-to-tackle-problem-of-mobile-search/ . 2017-12-09 .
  7. News: Musgrove . Annie . The Org collects $8.5 million from Founders Fund and Sequioa to publish organisation charts of companies . 31 October 2022 . Tech.eu . 20 February 2020.
  8. Web site: Keith Rabois: Did you really grow up in Edison . 2014-07-22.
  9. Web site: Weigel . Moira . December 20, 2021 . The Making of Peter Thiel's Networks . The New Republic . https://web.archive.org/web/20230929081733/https://newrepublic.com/article/164768/peter-thiel-networks-contrarian-book-review . September 29, 2023 . live.
  10. Web site: Weinberg . Cory . Bernard . Zoe . November 18, 2019 . In Keith Rabois' Silicon Valley, Nice Guys Finish Last . The Information.
  11. Web site: Masters of Their Domain . Mother Jones . 2018-07-09 . 2017-06-24. https://web.archive.org/web/20170624125221/http://www.motherjones.com/politics/2007/06/masters-their-domain/. live.
  12. Web site: Officials condemn homophobic incident, no prosecution planned . 1992-02-12 . 2016-06-03 . 2016-06-12. https://web.archive.org/web/20160612034738/http://news.stanford.edu/pr/92/920212Arc2432.html. live.
  13. Web site: Keith Rabois, COO Of Square, Resigns After Relationship With Employee, Harassment Allegations . HuffPost . 2013-01-26 . 2013-09-23. 2013-10-03. https://web.archive.org/web/20131003001934/http://www.huffingtonpost.com/2013/01/26/keith-rabois-square-resigns_n_2559017.html. live.
  14. No Death, No Taxes: The libertarian futurism of a Silicon Valley billionaire . Packer . George . The New Yorker . 21 November 2011 . 2011-12-07. 2013-01-24. https://web.archive.org/web/20130124111543/http://www.newyorker.com/reporting/2011/11/28/111128fa_fact_packer?currentPage=all. live.
  15. Web site: The Free Speech Peter Thiel Will Defend: "Faggot! Faggot! Hope You Die of AIDS!" . Trotter . J. K. . Gawker . 2020-03-28 . 2020-03-28. https://web.archive.org/web/20200328053408/https://gawker.com/the-free-speech-peter-thiel-will-defend-faggot-faggo-1779486823. live.
  16. Web site: Lunch Talk with Keith Rabois on a Career in Law, Startups and Venture Capital . 2017-12-30 . 2016-09-14 . https://web.archive.org/web/20160914042826/https://law.stanford.edu/event/lunch-talk-with-keith-rabois-on-a-career-in-law-startups-and-venture-capital/ . live .
  17. News: Stein . Joel . February 2, 2022 . How Miami became the most important city in America . FT Magazine.
  18. Web site: Keith Rabois' LinkedIn page. 2012-01-09. 2013-10-27. https://web.archive.org/web/20131027074848/http://www.linkedin.com/in/keith. live.
  19. Web site: A note from Keith . 2013-01-25 . dead . https://web.archive.org/web/20130128020426/http://keithrabois.tumblr.com/post/41463189288/a-note-from-keith . 2013-01-28 .
  20. Web site: Interview: Keith Rabois Talks About Sexual Harassment Claim, Becoming a "Distraction" at Square and What's Next. 2013-01-25. 2014-07-22. 2014-07-26. https://web.archive.org/web/20140726235054/http://allthingsd.com/20130125/exclusive-interview-keith-rabois-talks-about-sexual-harassment-claims-becoming-a-distraction-at-square-and-whats-next/. live.
  21. Web site: "Keith Rabois Is Silicon Valley's Hottest Commodity Right Now" . SFGate . 24 February 2013 . February 24, 2013 . https://web.archive.org/web/20130224165502/http://www.sfgate.com/technology/businessinsider/article/Keith-Rabois-Is-Silicon-Valley-s-Hottest-4303580.php . live .
  22. Web site: Former Square COO Keith Rabois Joins Khosla Ventures. . 2013-02-26. 2017-09-02. 2016-03-04. https://web.archive.org/web/20160304001831/http://www.forbes.com/sites/tomiogeron/2013/02/26/keith-rabois-joins-khosla-ventures/. live.
  23. Web site: Keith Rabois on Khosla Ventures website . dead . https://web.archive.org/web/20130725202036/http://www.khoslaventures.com/people_kr.html . 2013-07-25 .
  24. Web site: Ha . Anthony . 2015-01-02 . Scribd Raises $22M For Its Subscription E-Book Service . TechCrunch.
  25. Web site: Konrad . Alex . 2024-01-09 . Keith Rabois Makes A Surprise Return To Khosla Ventures, Five Years After Joining Founders Fund . Forbes . https://archive.today/20240110114945/https://www.forbes.com/sites/alexkonrad/2024/01/09/keith-rabois-surprise-return-khosla-ventures-from-founders-fund/ . 2024-01-10 . live.
  26. Web site: Keith Rabois joins Founders Fund amid transition at the firm . 2020-10-09 . TechCrunch . 20 February 2019 .
  27. Web site: Primack . Dan . Scoop: Keith Rabois leaving Khosla Ventures for Founders Fund. 2020-10-09 . Axios . 20 February 2019 . 2019-08-24. https://web.archive.org/web/20190824221629/https://www.axios.com/keith-rabois-leaving-khosla-ventures-founders-fund-peter-thiel-6f95c3bf-5e5b-46d1-86eb-cc813de8d949.html. live.
  28. News: Roof. Katie. 2019-02-20. VC Keith Rabois Bolts From Khosla Ventures to Join Peter Thiel's Founders Fund. Wall Street Journal. 2020-10-09. 0099-9660. 2020-08-15. https://web.archive.org/web/20200815182339/https://www.wsj.com/articles/vc-keith-rabois-bolts-from-khosla-ventures-to-join-peter-thiels-founders-fund-11550692810. live.
  29. Web site: Shah . Saqib . PayPal Mafia's Keith Rabois has acquired 40 Shopify sellers in the past year through his startup OpenStore. He's not slowing down despite the recent problems in the aggregator space. . 2022-07-18 . Business Insider .
  30. Web site: Konrad . Alex . OpenStore Raises $75 Million To Acquire More Shopify Sellers, Reaches $750 Million Valuation In Eight Months . 2022-07-18 . Forbes.
  31. Web site: Khosla Ventures' Keith Rabois finally launches his real estate startup . 2014-04-03 . 2019-03-27 . 2019-03-27 . https://web.archive.org/web/20190327220642/https://venturebeat.com/2014/04/03/keith-rabois-homerun/ . live .
  32. Web site: Keith Rabois' Homebuying Startup OpenDoor Raises $9.95M From Everyone. 2020-10-09. TechCrunch. 7 July 2014 . 2020-10-27. https://web.archive.org/web/20201027150532/https://techcrunch.com/2014/07/07/opendoor/. live.
  33. Web site: 2014-05-29. Here's investor Keith Rabois' bold new home-selling startup: OpenDoor. 2020-10-09. VentureBeat. 2020-10-26. https://web.archive.org/web/20201026022340/https://venturebeat.com/2014/05/29/heres-investor-keith-rabois-bold-new-home-selling-startup-opendoor/. live.
  34. News: Balakrishnan . Sara Salinas, Anita . Peter Thiel's venture firm is backing a new football league to rival the NFL . 22 August 2018 . CNBC . 20 March 2018 . 23 August 2018 . https://web.archive.org/web/20180823105437/https://www.cnbc.com/2018/03/20/peter-thiels-founders-fund-is-backing-alliance-of-american-football.html . live .
  35. Web site: Our supporters. FWD.us. 2013-04-17. dead. https://web.archive.org/web/20130416045611/http://www.fwd.us/our_supporters. 2013-04-16.
  36. News: NY Times:Silicon Valley Leaders' Plea to Democrats: Anyone but Sanders. The New York Times . 2 March 2020 . 2020-03-04. 2020-03-04. https://web.archive.org/web/20200304114509/https://www.nytimes.com/2020/03/02/technology/silicon-valley-bernie-sanders.html. live. Bowles . Nellie . Griffith . Erin .
  37. Web site: Calanacis. Jason. Feb 19, 2019. E904 Keith Rabois (Khosla/PayPal) advice for anti-VC/anti-hustle climate, Thiel, Trump, Thatcher-PT1. YouTube . live. https://web.archive.org/web/20200526122653/https://www.youtube.com/watch?v=j0MKhlLTav4. May 26, 2020.
  38. Web site: Calanacis. Jason. Feb 22, 2019. E905 PT2 Keith Rabois PayPal/FoundersFund: censorship, secondary shares, selling, getting into tech. YouTube . live. https://web.archive.org/web/20190222234501/https://www.youtube.com/watch?v=fOS9K4UU50A&gl=US&hl=en. February 22, 2019.
  39. rabois . 1524154192184627201 . Sounds like a wise policy to me. . Keith Rabois.
  40. News: DeSantis needs a new Republican lane, Elon Musk might be paving it . Politico . 24 May 2023 . Ben Schreckinger.
  41. Web site: Brinklow. Adam. 2017-03-28. Glen Park residents fume over tech billionaire's plan for three-story addition with basketball court. 2020-09-20. Curbed SF. 2020-10-13. https://web.archive.org/web/20201013150258/https://sf.curbed.com/2017/3/28/15097318/rabois-san-francisco-tech-billionaire-basketball-court. live.
  42. Web site: What Happens When Your Neighbor Is A Venture Capitalist. 2020-09-20. BuzzFeed News. 2019-09-19. https://web.archive.org/web/20190919172058/https://www.buzzfeednews.com/article/nitashatiku/keith-rabois-san-francisco-billionaire-basketball-court. live.
  43. Web site: 2017. Planning Application Glen Park. live. https://web.archive.org/web/20170902223331/https://media.wix.com/ugd/652568_61b98d41e9c144079fece09a8b913887.pdf. 2 September 2017. 20 September 2020.
  44. Web site: 2017-03-29. Tech Entrepreneur's San Francisco Remodel Upsetting Neighbors. 2020-09-20. en-US. 2017-04-02. https://web.archive.org/web/20170402013028/http://sanfrancisco.cbslocal.com/2017/03/29/san-francisco-remodel-keith-rabois-basketball-court/. live.
  45. Web site: Schleifer . Theodore . 2019-05-07 . How Pete Buttigieg became the new toast of Silicon Valley's wealthiest donors . 2020-09-17 . Vox . 2020-08-13. https://web.archive.org/web/20200813062133/https://www.vox.com/recode/2019/5/7/18527646/pete-buttigieg-silicon-valley-donors-mark-zuckerberg. live.
  46. Web site: Instagram post by Jacob Helberg . 12 Jan 2019. https://ghostarchive.org/iarchive/s/instagram/Bsg8OSrn_Mn . 2021-12-24 . registration. 2020-09-17 . Instagram.
  47. Web site: Silicon Valley loses another tech icon . Robert Hackett . Fortune . 17 November 2020 . 19 November 2020 .

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