Eric Lefkofsky: From Founding Groupon to Finding the Cure for Cancer
Eric Lefkofsky might be best known for being the former CEO of Groupon, the company he co-founded in 2008. However, Lefkofsky was an important business figure well before that. By the time he was thirty, Lefkofsky had been the CEO of two successful companies, Starbelly and Halo.
Before it was called Groupon, the company he co-founded was known as ThePoint.com. It started as an online cooperative that connected businesses and consumers in a mutually beneficial, and novel way. The name change came one year later. In 2011, Groupon’s IPO was the largest by any web-based company since Google. The initial public offering raised a total of $700 million, debuting at $20 a share. Check crunchbase.com.
In 2015, Eric Lefkofsky stepped down as Groupon’s CEO and stock prices immediately took a hit, dropping more than 25 percent within a few hours of the announcement. Lefokofsky remained unscathed, however, choosing to focus his efforts on more philanthropic pursuits.
The year before leaving Groupon, Lefkofsky started Uptake, LLC. The data analytics company he formed with longtime friend and business partner, Brad Keywell. When you look at all that Lefkofsky has accomplished, in his 47 years, it would seem enough. Only, it was just the beginning. Based on lightbank.com.
Last year, he founded a new company, Tempus Health Inc. It may seem a bit of a departure, that his newest endeavor is in health tech, however, in an article for Crain’s Chicago Business, Eric Lefkofsky himself connects the dots. “All of my companies have had an element of ‘Big Data,’” he said. The mission behind Tempus, though is much bigger, than any of his other companies. Their aim is to apply data analytics to solve cancer. There are personal reasons for his involvement in the project, making it a labor of true love.
Eric Lefkofsky says that Tempus differs from other cancer databanks that pair patient data with the most likely effective treatment regimen because, in addition to providing their own genome sequencing laboratory, they partner with leading physicians and hospitals to collect massive amounts of data. The use of this data, the Tempus team believes, holds the key to unlocking the cure for the disease. His website reads: “Someday Tempus’ data will be used to help physicians develop a better plan of care and treatment regimen for each patient.” The next obvious question to ask is, “will there ever be a Groupon for that?”