Eric Lefkofsky
Eric Lefkofsky | |
|---|---|
| Born | September 2, 1969 West Bloomfield, Michigan, U.S. |
| Occupation(s) | Entrepreneur, CEO |
| Years active | 1999–present |
| Known for | Founder and CEO of Tempus AI; co-founder of Groupon, Echo Global Logistics, InnerWorkings, Mediaocean; co-managing partner at Lightbank |
Eric Paul Lefkofsky (born September 2, 1969) is an American entrepreneur and billionaire. He serves as the founder and CEO of Tempus AI and is a co-founder of several companies, including Groupon, Echo Global Logistics (ECHO), InnerWorkings (INWK), and Mediaocean. Additionally, Lefkofsky holds the position of co-managing partner at Chicago-based venture capital firm Lightbank. As of October 2024, his net worth was estimated at approximately US$4.4 billion.
Biography
Lefkofsky was born in West Bloomfield, Michigan and grew up in Southfield. His father, Bill, worked as a structural engineer, while his mother, Sandy, was a school teacher. After completing his education at Southfield-Lathrup High School in 1987, he enrolled at the University of Michigan, graduating with honors in 1991. He then obtained his Juris Doctor degree from the University of Michigan Law School in 1993.
Entrepreneurial ventures
Following law school, Lefkofsky partnered with college friend Brad Keywell to purchase Brandon Apparel, a clothing business based in Madison, Wisconsin, using borrowed funds. In 1999, they launched Starbelly, an online promotional products company that was acquired by Halo Industries in 2000; Lefkofsky subsequently took on the role of COO there.
In 2001, he co-founded InnerWorkings, a print procurement company targeting mid-sized enterprises, which went public in August 2006. Lefkofsky remained on its board until October 2012.
In 2005, he helped establish Echo Global Logistics, a freight logistics firm supported by New Enterprise Associates, which debuted on Nasdaq under the ticker 'ECHO' in June 2006.
That same month, Lefkofsky co-founded MediaBank, a technology provider for advertising purchasers. MediaBank acquired Datatech in 2007 and attracted investment from New Enterprise Associates. In 2012, MediaBank merged with Donovan Data Systems to create Mediaocean, which was valued around $1.5 billion.
In January 2007, Lefkofsky invested $1 million into ThePoint.com, founded by former InnerWorkings employee Andrew Mason. The platform was rebranded as Groupon in late 2008. By October 2009, Groupon secured $30 million in funding from Accel Partners and New Enterprise Associates. In April 2010, Digital Sky Technology and Battery Ventures invested $135 million at a valuation of $1.35 billion.
In December 2010, Google proposed a $6 billion acquisition of Groupon; however, the offer was declined due to potential regulatory challenges. In October 2011, Groupon raised $950 million through private funding and distributed $810 million to employees and investors; Lefkofsky’s share amounted to $398 million. He assumed the role of Groupon CEO in August 2013 and stepped down in November 2016 to return as Chairman.
In July 2014, Lefkofsky became an early investor in predictive analytics company Uptake Technologies. In 2015, he founded Tempus AI, a technology enterprise focused on enabling personalized cancer treatment for doctors, where he currently acts as CEO.
Philanthropy
In 2006, Lefkofsky and his wife Liz created The Lefkofsky Family Foundation, a private charitable organization dedicated to supporting impactful projects that enhance quality of life within their communities. To date, the foundation has contributed to over fifty organizations.
The couple joined The Giving Pledge in 2013, committing to donate at least half of their wealth to philanthropic causes.
Community involvement
Lefkofsky holds the position of chairman of the board at The Art Institute of Chicago and serves on the boards of The Museum of Science and Industry as well as the Steppenwolf Theatre Company. Additionally, he acts as a board member and co-chair for the Technology Council within World Business Chicago, playing an active role in fostering economic growth in the area.
In 2008, he became part of the committee supporting Chicago’s campaign to host the 2016 Summer Olympic Games, known as Chicago 2016.
Academic roles and publications
Lefkofsky has delivered courses on applied technology at DePaul University's Kellstadt Graduate School of Business and taught about disruptive business strategies at Northwestern University's Kellogg School of Management. Since 2013, he has been serving as an adjunct professor at the University of Chicago Booth School of Business, where his focus is on entrepreneurship and technology-driven enterprises.
He published Accelerated Disruption in 2007, a work examining how technological advances reshape business landscapes.
Personal details
Lefkofsky married Elizabeth (née Kramer) in 1997, and together they have three children.