Jeffrey Jordan, Opentable's ex-CEO, joins Andreessen Horowitz, invests in LikeALittle flirting app
Jeffrey Jordan -- who has in the past run Opentable, PayPal and Ebay -- is joining Silicon Valley venture capital firm Andreessen Horowitz as a general partner.
Jordan stepped aside as Opentable's chief executive in May after leading the online reservation service to its initial public offering, but remains with the company as its executive chairman. Opentable's stock has been in a decline since a six-month high on April 25 at $115.62 a share.
At Andreessen Horowitz, Jordan is taking a board seat as the firm's fifth partner and he's already made his first investment, contributing to a $5-million round of funding the VC is injecting into Hawthorne Labs, maker of LikeALittle, a social networking app that enables users to flirt with others who are physically located nearby.
Marc Andreessen, the firm's co-founder and a partner, announced Jordan's addition in a blog post Thursday in which he described the former chief executive as "legendary."
"Jeff has run three of the iconic businesses of the Internet revolution," Andreessen said. "Most recently, Jeff has been CEO and remains executive chairman of Opentable, which has transformed the restaurant industry -- with 20,000 restaurants and 200 million diners served. Before that, Jeff ran Paypal, the definitive online payments company of the Internet era, resulting in a business with 133 million user accounts and $38 billion of payment volume when he left. And before that, Jeff ran Ebay North America for five years, where he helped build Ebay into the Internet's leading e-commerce company and led Ebay's successful and transformative acquisitions of Paypal and Half.com."
Evan Reas, in a statement, said that Jordan would be advising LikeALittle's development in Palo Alto.
"Jeff knows how to scale an organization as good as anyone in the world," Reas said. "After leading two public companies, he has learned a thing or two. Most exciting, he knows how we can grow, but still keep our hacker culture that keeps us so productive. "
-- Nathan Olivarez-Giles
Photo: Jeffrey Jordan. Credit: Opentable