Timothy C. Draper
Timothy C. Draper
Born | June 11, 1958 |
---|---|
Alma mater | Harvard University Stanford University |
Occupation | Founder andManaging Director,Draper Fisher Jurvetson(DFJ) |
Net worth | US$1 billion (2017) |
Melissa Lee (Parker) Draper | |
Children | Billy Draper, Adam Draper, Eleanor Draper, andJesse Draper |
Parent(s) | William Henry Draper IIIand Phyllis (Culbertson) Draper |
Relatives | Polly Draper(Sister) |
Website | Profile at Draper Fisher Jurvetson |
Timothy Cook Draper (born June 11, 1958) is an American venture capital investor, and 1985 founder of the firm that would become Draper Fisher Jurvetson (DFJ). Draper is also the founder of Draper Associates and Draper University. In July 2014, Draper received wide coverage for his purchase at a US Marshals Service auction of seized bitcoins from the Silk Road marketplace website.
Born | June 11, 1958 |
---|---|
Alma mater | Harvard University Stanford University |
Occupation | Founder andManaging Director,Draper Fisher Jurvetson(DFJ) |
Net worth | US$1 billion (2017) |
Melissa Lee (Parker) Draper | |
Children | Billy Draper, Adam Draper, Eleanor Draper, andJesse Draper |
Parent(s) | William Henry Draper IIIand Phyllis (Culbertson) Draper |
Relatives | Polly Draper(Sister) |
Website | Profile at Draper Fisher Jurvetson |
Background and early life
Draper is the third in a familial line of venture capitalists.
He is the son of Phyllis (Culbertson) and William Henry Draper III and the younger brother of actress Polly Draper. His father is the founder of Draper & Johnson Investment Company and former chairman and president of the Export-Import Bank of the United States. His grandfather, William Henry Draper Jr., founded Draper, Gaither and Anderson in 1958.
He has a degree in electrical engineering from Stanford University, and later earned an MBA from Harvard Business School in 1984.
Financial career
In 1985, Draper left the bank Alex, Brown & Sons to start his own venture capital firm; former colleague John H.N.
Fisher became a partner in 1991, and business student Steve Jurvetson became the third partner in the firm.
In 2013 he announced his departure from Draper Fisher Jurvetson.
Hotmail and viral marketing
Although the history of the term is not fully clear, it is commonly argued that Draper and Jurvetson "invented viral marketing" in 1996, due to their idea of automatically attaching a brief advertising message to the bottom of outgoing Hotmail emails, though the neologism itself is documented as early as a 1989 edition of PC User.
Skype
Draper's father, Bill Draper, was an earlier investor in Skype, and DFJ backed Skype in 2004. The company owned 10% of Skype in 2005 when it was sold to eBay for US$4.1 billion.
Bitcoin auction
On June 27, 2014, Draper purchased, for an undisclosed price, nearly 30,000 bitcoins which had been seized by the US Marshals service and auctioned to the public.
The accumulation of bitcoins was estimated to be worth US$19 million at the time.
On January 27, 2015, Tim Draper wagered about $400,000 (which is 2000 bitcoins with $200 price) that the bitcoin will rebound from its recent plunge.
Sense.Chat
On September 9 2019, Tim Draper Joins the Board of Directors at EOS.IO based decentralized application Sense.Chat's firm Make Sense Labs.[38][39]
Politics
Draper has spoken out against Sarbanes-Oxley regulations, stating that they limit the viability of taking companies public.
In 2000, Draper spent $20 million on a failed measure to support school vouchers.
Six Californias
In early 2014, Draper filed a petition which was accepted by California's Secretary of State Debra Bowen to begin collecting signatures to divide California into six smaller states, arguing that California is "increasingly ungovernable" as one state. However, on September 12, 2014, it was announced the plan fell short of the required amount of valid signatures to land it on the 2016 ballot. Draper spent in excess of $5 million to try to qualify the proposition for the ballot, with nearly $450,000 for political consultants.
Educational program
In 2013, Draper launched Draper University of Heroes, an educational program that offers a crash course in entrepreneurship. The university's residential program is based in San Mateo, California, and the curriculum is designed by Draper.