YouTube co-founder looks for his next success
Jawed Karim is scouring the Twin Cities for the next YouTube. Karim, a 29-year-old Ph.D. student at Stanford University, is believed to be worth tens of millions of dollars or more. He is a founder of online payment processor PayPal, which eBay acquired in 2002 for $1.5 billion. Four years later, Karim received $65 million in Google stock when the Internet giant bought YouTube for $1.65 billion.
He started Youniversity last year with Kevin Hartz and Keith Rabois, two Stanford grads who work with Sequoia Capital, the high-powered Silicon Valley venture firm that invested in Google, Apple, Oracle and Yahoo. The three men will invest $50,000 to $300,000 of their own money per company. For more information, go to www.youniversityventures.com.