Eric Lefkofsky
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| Eric Lefkofsky | |
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| Born | September, 1969 Detroit, Michigan |
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| Education | University of Michigan |
| Occupation | President, Blue Media LLC |
| Spouse | Elizabeth |
| Website http://lefkofsky.com |
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Eric Paul Lefkofsky (born September, 1969) is a U.S.-born serial entrepreneur. He is currently president of Blue Media, LLC, a Chicago-based private equity and consulting firm.
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[edit] Early life
Lefkofsky grew up in Southfield, Michigan; Lefkofsky’s father, Bill, is a structural engineer, his mother Sandy was a school teacher. He has a brother, Steven, an attorney practicing in Michigan, and a sister, Jodi, also a former school teacher. After graduating from Southfield Lathrop High School in 1987, Lefkofsky attended the University of Michigan and graduated with honors in 1991. He continued on at University of Michigan Law School to receive his Juris Doctor in 1993.[1]
[edit] Entrepreneurial ventures
Lefkofsky began his career selling carpet at the University of Michigan. After law school, in 1993, he and a college friend, Brad Keywell, borrowed money from relatives to buy an apparel company in Madison, Wisconsin named Brandon Apparel. In 1999, Lefkofsky and Keywell created an early Internet company called Starbelly that specialized in promotional products. Starbelly experienced rapid “pre-bubble” Internet growth and was sold to Halo Industries in January, 2000. Eighteen months after the acquisition of Starbelly Halo filed for Chapter 11 bankruptcy protection.[2]
After Starbelly, Lefkofsky, along with a core team of investors and entrepreneurs, founded InnerWorkings in the fall of 2001. InnerWorkings provided print procurement services for mid-sized companies and achieved solid year-over-year growth. In August, 2006, InnerWorkings had a successful initial public offering in the U.S. stock market (nasdaq: INWK). [3]
In February of 2005, Lefkofsky and Keywell created a freight logistics company called Echo Global Logistics. Echo attracted series D financing from New Enterprise Associates (NEA), one of the largest technology investors in the country, in June of 2006. Echo filed an S1 document with the SEC in May of 2008, announcing its intention to take the company public with an initial public offering.
In June of 2006, Lefkofsky and Keywell founded MediaBank, a media-buying technology company. MediaBank provides advertising buyers with planning, buying, accounting and analysis software. In June, 2007, MediaBank acquired Datatech[4], one of the leading media planning and procurement platforms in the advertising industry. In July, 2007, New Enterprise Associates invested in MediaBank. [5]
In January, 2007, Lefkofsky and his partners provided funding for ThePoint.com, a problem-solving social networking website founded by Andrew Mason. New Enterprise Associates is currently leading an investment round at ThePoint. [6]
[edit] Philanthropy
In 2006, Eric Lefkofsky and his wife, Elizabeth, formed a charitable trust, the Lefkofsky Foundation, for the “purpose of supporting charitable, scientific, and educational organizations and causes around the world.” The foundation has a focus on children. The foundation has helped fund more than 50 organizations to date.[7]
[edit] Community interests
Lefkofsky is on the board of directors at Children’s Memorial Hospital in Chicago and a Trustee of Steppenwolf Theatre Company, a Chicago-based performing arts institution.[8]
In May of 2008, Lefkofsky joined the committee to bring the 2016 Summer Olympics to Chicago, Chicago 2016.
[edit] Teaching and writing
Since his success at InnerWorkings, Lefkofsky began a teaching career at business schools in the Chicago area. He previously taught Applied Technology at DePaul University’s Kellstadt Graduate Business School. He is currently teaching a course in Disruptive Technology & Business models at Northwestern’s Kellogg School of Management.
In November, Easton Studio Press published Lefkofsky's Accelerated Disruption, a book about how technology affects business.
[edit] References
- ^ Lefkofsky.com
- ^ Promo magazine
- ^ IPO Home
- ^ RedOrbit
- ^ Business Wire
- ^ Lefkofsky, E: "Accelerated Disruption", page 15, Easton Studio Press, 2007
- ^ Lefkofsky Foundation
- ^ Lefkofsky, E: "Accelerated Disruption", dust jacket, Easton Studio Press, 2007
