Tech
Chicago tech entrepreneur Eric Lefkofsky has launched six unicorns, building a legacy far beyond Groupon

Since the dawn of the new millennium, there have been at most several thousand startup tech companies across the U.S. that have achieved unicorn status—crossing the $1 billion valuation.
Eric Lefkofsky, 55, the Chicago-based serial entrepreneur best known for co-founding online daily deals site Groupon, has given rise to six of them, evolving from discount coupons for pedicures to potentially lifesaving cancer treatments using artificial intelligence.
For most Chicagoans, however, the soft-spoken Lefkofsky remains something less than a household name, a billionaire entrepreneur whose brand is not emblazoned on a skyscraper, despite helping to put the city on the tech world map.
“He’s been a huge force in Chicago,” said Howard Tullman, a Chicago venture capitalist and the former CEO of 1871, the city’s influential tech hub. “This is not a guy who spent a lot of time chasing recognition, and he’s been a little bit below the radar. And I think that’s really particularly admirable.”
While unicorns are far more plentiful now than when venture capitalist Aileen Lee coined the mythical appellation in 2013, Lefkofsky remains a rarity in Chicago tech circles and beyond, launching and nurturing a diverse portfolio of big ideas brought to life.
For much of Lefkofsky’s remarkable run, the startups have been developed at 600 W. Chicago Ave., the century-old former Montgomery Ward Catalog building, which became known colloquially as the Groupon building with the stratospheric rise of the e-commerce website.
At one point, Lefkofsky’s various ventures occupied more than three-fourths of the massive 1.65 million-square-foot building in the Goose Island neighborhood along the Chicago River.
Founded in 2008, Groupon, which once spurned a $6 billion takeover offer from Google on its way to a $25 billion valuation, has fallen in recent years to a fraction of its previous worth amid sharp revenue declines. In January 2024, a downsizing Groupon moved to smaller digs downtown, leaving a 300,000-square-foot hole in the onetime nexus of the Chicago tech scene.
Once its largest shareholder with a 40% stake, Lefkofsky stepped down from an active leadership role at Groupon in 2015 and has since pared his holdings to just under 10%.
But Lefkofsky is still hard at work inside the building where the online daily deals site was born, fully invested in developing the next big thing.
Besides Groupon, the list of billion-dollar startups founded by Lefkofsky includes InnerWorkings, Echo, Mediaocean and Pathos AI. In recent years, most of his time, money and energy have been focused on Tempus, an AI-powered health care technology company he founded in 2015 to treat cancer and other diseases.
Lefkofsky serves as CEO of Tempus, a publicly traded company with 4,000 employees, offices and labs across the country and a market cap of more than $13 billion. More than any other company in his portfolio, the mission is personal to Lefkofsky, who started Tempus after his wife was diagnosed with breast cancer.
“In the process of her treatment, I ended up deciding that I really wanted to focus on this space, and spend the rest of my career thinking about cancer, how to bring technology to cancer care,” Lefkofsky said during a recent visit to Tempus headquarters, a bustling office and laboratory space that occupies 217,000 square feet of the former Montgomery Ward/Groupon building.
More than 1,000 employees circumnavigate the bustling fifth floor Tempus office around an atrium that Lefkofsky said was a spiral parking ramp before the building—a National Historic Landmark that once housed the country’s oldest mail-order firm—was converted to tech space 25 years ago.
The Tempus workforce is a melange of techies, scientists, oncologists and pathologists, all blended together with the same goal: using AI to better treat cancer.
“What’s unique about Chicago is that we have a little bit of everything,” Lefkofsky said, navigating seamlessly between the worlds of technology and science on a tour of his sprawling office.
There are two main areas of focus for Tempus.
In the life sciences realm, the company is analyzing molecular and clinical data with the help of artificial intelligence to facilitate drug research and development. Tempus is also pioneering new technology such as biological modeling, where “mini-tumors” are regrown from lab samples to test the efficacy of drugs.
The other half of the business for Tempus is clinical genomic sequencing, where tissue from cancer patients is shipped into the lab from all over the U.S. and analyzed using artificial intelligence to personalize treatment based on molecular biomarkers.
Half of the nation’s 14,000 or so oncologists regularly order sequencing tests from Tempus, Lefkofsky said. Tempus is one of the largest genomic sequencing companies in the country, helping doctors identify mutations to inform cancer treatment decisions, he said.
“When we started Tempus 10 years ago, maybe 10% of the patients were sequenced,” he said. “Today it’s over 50% in the United States, and soon it will be 100%. It’s just standard care.”
Lefkofsky has poured $100 million into Tempus, which has yet to turn a profit. He is confident that is about to change.
Tempus reported nearly 90% year-over-year revenue growth during its second quarter earnings report Aug. 8, raising its full-year 2025 revenue guidance to $1.26 billion. The company, whose stock price has more than doubled this year, is projecting a positive adjusted EBITDA of $5 million for 2025.
Beyond seed money, growing Tempus from a startup to a $13 billion company has also required a lot of sweat equity from Lefkofsky.
“It was not a small amount of money that I ended up putting into a series of rounds,” he said. “But more than the capital, it’s been kind of all-consuming for the last 10 years of my life.”
He was pretty busy before Tempus as well.
In addition to the six unicorns, Lefkofsky co-founded venture capital firm Lightbank. His startup success has made him the 643rd richest person in the world with a net worth of $5.9 billion, according to the Forbes real-time billionaires list.
A Detroit native, Lefkofsky earned a bachelor’s and a law degree at the University of Michigan before making his mark on the Chicago tech scene.
In the wake of the dot.com bubble burst, Lefkofsky launched a string of startups, beginning with InnerWorkings, a printing technology company he founded in 2001. Two years later, Lefkofsky moved InnerWorkings into 600 W. Chicago, the hulking former warehouse that had been recently redeveloped as a tech center.
“When I came to the building, it was about 90% vacant—and most of these floors were concrete for parking,” Lefkofsky said. “There were maybe one or two built floors and they were maybe half built, and we took some space with InnerWorkings.”
With plenty of room to grow, Lefkofsky and his portfolio soon did.
In 2005, he co-founded Echo Global Logistics with longtime business partner Brad Keywell, using technology to drive freight transportation. The company went public in 2009, growing into a multibillion-dollar logistics giant.
Next up, Lefkofsky and Keywell founded MediaBank in 2006, an advertising technology startup that evolved into Mediaocean through a 2012 merger with a New York-based rival.
Then came Groupon, an e-commerce launch that has become almost mythic in its arc.
In 2007, Andrew Mason, then a recent Northwestern University music grad, started a website called The Point with $1 million in seed money from Lefkofsky. The initial concept was to bring together people with a common cause to take action, but the mission soon pivoted to a daily deals retailing site, and Groupon was born.
Groupon created its own e-commerce niche with heavily discounted daily deals on everything from manicures to meals, blasted out to subscribers via email. It exploded in popularity and employment grew from a handful to more than 10,000 worldwide as the company’s valuation blossomed into the billions.
Google tried to purchase Groupon for nearly $6 billion in 2010, but Mason and his investors said no deal. By 2011, Groupon was valued at $25 billion, and the company went public, raising $700 million in the largest tech initial public offering since Google.
From an investor standpoint, it has been mostly downhill from there.
Operating losses, management missteps—including a disastrous 2011 Super Bowl ad— and a rapid post-IPO decline in valuation led to the 2013 ouster of Mason as CEO.
In August 2013, Lefkofsky was named CEO of Groupon. But one year into his new role, Lefkofsky’s life changed when his wife, Liz, was diagnosed with breast cancer. By 2015, he stepped down as CEO at Groupon and started Tempus.
Ten years later, Lefkofsky said his wife is “doing well” and Tempus is thriving at the intersection of technology and medicine.
In this case, necessity was both the mother of invention—and their three children.
“The work we did to try to figure out how to treat her was actually personalized using data, and so it ended up producing a good outcome,” Lefkofsky said. “So in many ways, she was Patient One of Tempus.”
From the outset, Tempus employed artificial intelligence to analyze medical data—long before the term, and the technology, came into widespread use.
As the ability to use AI in health care at scale gains momentum, the opportunity for Tempus to become a standard diagnostic tool and an integral part of mainstream medicine continues to ramp up, Lefkofsky said.
“We’re helping tens of thousands of patients around the country manage their cancer care, and we’ve expanded it to other disease areas such as cardiology and neurology,” Lefkofsky said. “It’s just good to see a lot of the roots we planted take hold.”
Living up to his company’s name—tempus means time in Latin—Lefkofsky somehow manages to find enough time for a number of the city’s civic and cultural organizations.
Longtime Glencoe residents, Lefkofsky and his wife are actively engaged in philanthropic pursuits, establishing an eponymous family foundation in 2006. He has also served on a number of boards, including Steppenwolf Theater Company, Lurie Children’s Hospital and World Business Chicago.
“I think he’s been a tremendous entrepreneurial influence, and I think that he’s also been maybe even more impressive, frankly, on the philanthropic side,” Tullman said.
In November, the Art Institute named Lefkofsky as its new board chairman, putting the tech billionaire in charge of overseeing the museum, the school and an ambitious plan to usher in an era of new development at the historic South Michigan Avenue campus.
His new role came with some unexpected drama when the museum’s director, James Rondeau, returned from a voluntary leave in June following a board investigation into an incident where he removed his clothes and disrupted a United Airlines flight to Germany.
“As a board, we were thrilled to have him back and thrilled just to be moving forward,” Lefkofsky said.
Meanwhile, his day job may be entering a new phase as fledgling companies leave the nest and head off on their own—faster than new ones launch.
InnerWorkings, Echo and Mediaocean have all been acquired by private equity firms. Czech investor Dusan Senkypl, now the largest stakeholder in Groupon, took the helm of the struggling daily deals site and last year moved the company to a smaller space in the Leo Burnett Building on Wacker Drive as part of a larger cost-cutting initiative.
Pathos AI, a Chicago-based biotech startup Lefkofsky co-founded with Tempus COO Ryan Fukushima in 2020, gained unicorn status in March with a $365 million round of funding that brought its valuation to $1.6 billion. Its day-to-day management is vested in other hands.
Pathos, Echo and Tempus still call 600 W. Chicago Ave. home.
Lefkofsky continues to focus on building Tempus, which in late August announced the acquisition of Paige, an AI company specializing in digital pathology. The $81 million deal is mostly being paid with Tempus common stock.
With six unicorns under his belt, Lefkofsky is not ready to give up the CEO’s role at Tempus anytime soon.
“I think my focus over the next several years is just running Tempus and making sure that it delivers on its mission,” Lefkofsky said.
As to the prospects of starting unicorn No. 7 down the road, Lefkofsky didn’t rule it out.
“I don’t have any plans to start another company,” he said. “But every once in a while, you know, things come up and you get excited.”
2025 Chicago Tribune. Distributed by Tribune Content Agency, LLC.
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Chicago tech entrepreneur Eric Lefkofsky has launched six unicorns, building a legacy far beyond Groupon (2025, September 4)
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Tech
One Tech Tip: How to prepare for outages that impact our online lives, from banking to chatting apps

A major Amazon Web Services outage disrupted scores of online platforms on Monday—leaving people around the world unable to access some banks, chatting apps, online food ordering and more.
History shows these kinds of system outages can be short-lived, and are often minor inconveniences—such as placing a lunch order in person or waiting a few hours for a gaming platform to come back online—than long-term problems, but recovery can be a bumpy road. And for people trying to move money, communicate with loved ones or work using impacted services, disruptions are especially stressful.
Consumers may not realize how many platforms they use rely on the same back-end technology. AWS is one of only a handful of major cloud service providers that businesses, governments, universities and other organizations rely on. Monday’s outage is an important reminder of that—and experts stress it’s important to diversify our online lives where we can, or even have some “old school” alternatives to turn to as a backup plan.
“Don’t put all your eggs in one digital basket,” said Lee McKnight, an associate professor at Syracuse University’s School of Information Studies, noting these kinds of outages aren’t going away anytime soon.
So what, if anything, can you do to prepare for disruptions? Here are a few tips.
Keep your money in more than one place
During Monday’s AWS disruptions, users on outage tracker Downdetector reported problems with platforms like Venmo and online broker Robinhood. Banks such as Halifax and Lloyds also said some of their services were temporarily affected, although some customers continued to report lingering issues.
Even if short-lived, outages that impact online banking and other financial services can be among the most stressful, particularly if a consumer is waiting on a paycheck, trying to pay rent, checking on investment funds or making purchases. While much of your stress will depend on the scope and length of disruptions, experts say a good rule of thumb is to park your money in multiple places.
“I’m a big fan of holding multiple accounts that can give us access, to some degree, of funds at any given time,” said Mark Hamrick, senior economic analyst at Bankrate. This underlines the importance of having an emergency savings account, he explains, or other accounts separate from something like day-to-day checking account, for example.
Keeping some cash in a safe place is also a good idea, he adds—and emergency preparedness agencies similarly recommend having physical money on hand in case of a natural disaster or power failures. Still, it’s important to keep hoarding in moderation.
“We shouldn’t go overboard, because we can lose cash—it can be stolen or misplaced,” Hamrick said. And in terms of prudent financial practices overall, he explains, you also don’t want to have lots of money “stored under a mattress” if it could instead be earning interest in a bank.
Depending on the scope of the outage, some other options could still be available.
If digital banking apps are offline, for example, consumers may still be able to visit a branch in person, or call a representative over the phone—although wait times during widespread disruptions are often longer. And if the disruptions are tied to a third-party cloud services provider, as seen with AWS on Monday, it’s not always something a bank or other impacted business can fix on its own.
Have backup communication channels
Monday’s AWS outage also impacted some communications platforms, including social media site Snapchat and messaging app Signal.
In our ever-digitized world, people have become all the more reliant on online channels to call or chat with loved ones, communicate in the workplace and more. And while it can be easy to become accustomed to certain apps or platforms, experts note that outages serve as an important reminder to have backup plans in place.
That could take the form of simply making sure you can reach those who you speak to regularly across different apps, again depending on the scope of disruption. If broader internet and cloud services that smartphones rely on are impacted, you may need to turn to more traditional phone calls and SMS text messages.
SMS texting relies on “an older telecom infrastructure,” McKnight explains. For that reason, he notes that it’s important to have contacts for SMS texting up to date, “and not just the fancier and more fun services that we use day to day” in case of an emergency.
Meanwhile, there can also be outages that specifically impact phone services. For non-cloud service outages in the past, impacted carriers have suggested users try Wi-Fi calling on both iPhones and Android devices.
Save your work across multiple platforms—and monitor service updates
Overall, McKnight suggests “building out your own personal, multi-cloud strategy.”
For online work or projects, that could look like storing documents across multiple platforms—such as Google Drive, Dropbox and iCloud, McKnight explains. It’s important to recognize potential security risks and make sure all of your accounts are secure, he adds, but “having some diversity in how you store information” could also reduce headaches when and if certain services are disrupted.
Many businesses may also have their own workarounds or contingency plans in case the technology they use goes offline. While a wider recovery from Monday’s outage is still largely reliant on Amazon’s wider mitigation efforts, individual platforms’ social media or online status pages may have updates or details about alternative operations.
You can also check outage trackers like Downdetector to see if others are experiencing similar problems.
Even after recovery, experts also suggest checking payments, online orders and messages you may have sent during or close to the outage—in case something didn’t go through.
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One Tech Tip: How to prepare for outages that impact our online lives, from banking to chatting apps (2025, October 21)
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Tech
OpenAI has slipped shopping into ChatGPT users’ chats—here’s why that matters

Your phone buzzes at 6 a.m. It’s ChatGPT: “I see you’re traveling to New York this week. Based on your preferences, I’ve found three restaurants near your hotel. Would you like me to make a reservation?”
You didn’t ask for this. The AI simply knew your plans from scanning your calendar and email and decided to help. Later, you mention to the chatbot needing flowers for your wife’s birthday. Within seconds, beautiful arrangements appear in the chat. You tap one: “Buy now.” Done. The flowers are ordered.
This isn’t science fiction. On Sept. 29, 2025, OpenAI and payment processor Stripe launched the Agentic Commerce Protocol. This technology lets you buy things instantly from Etsy within ChatGPT conversations. ChatGPT users are scheduled to gain access to over 1 million other Shopify merchants, from major household brand names to small shops as well.
As marketing researchers who study how AI affects consumer behavior, we believe we’re seeing the beginning of the biggest shift in how people shop since smartphones arrived. Most people have no idea it’s happening.
From searching to being served
For three decades, the internet has worked the same way: You want something, you Google it, you compare options, you decide, you buy. You’re in control.
That era is ending.
AI shopping assistants are evolving through three phases. First came “on-demand AI.” You ask ChatGPT a question, it answers. That’s where most people are today.
Now we’re entering “ambient AI,” where AI suggests things before you ask. ChatGPT monitors your calendar, reads your emails and offers recommendations without being asked.
Soon comes “autopilot AI,” where AI makes purchases for you with minimal input from you. “Order flowers for my anniversary next week.” ChatGPT checks your calendar, remembers preferences, processes payment and confirms delivery.
Each phase adds convenience but gives you less control.
The manipulation problem
AI’s responses create what researchers call an “advice illusion.” When ChatGPT suggests three hotels, you don’t see them as ads. They feel like recommendations from a knowledgeable friend. But you don’t know whether those hotels paid for placement or whether better options exist that ChatGPT didn’t show you.
Traditional advertising is something most people have learned to recognize and dismiss. But AI recommendations feel objective even when they’re not. With one-tap purchasing, the entire process happens so smoothly that you might not pause to compare options.
OpenAI isn’t alone in this race. In the same month, Google announced its competing protocol, AP2. Microsoft, Amazon and Meta are building similar systems. Whoever wins will be in position to control how billions of people buy things, potentially capturing a percentage of trillions of dollars in annual transactions.
What we’re giving up
This convenience comes with costs most people haven’t thought about.
Privacy: For AI to suggest restaurants, it needs to read your calendar and emails. For it to buy flowers, it needs your purchase history. People will be trading total surveillance for convenience.
Choice: Right now, you see multiple options when you search. With AI as the middleman, you might see only three options ChatGPT chooses. Entire businesses could become invisible if AI chooses to ignore them.
Power of comparing: When ChatGPT suggests products with one-tap checkout, the friction that made you pause and compare disappears.
It’s happening faster than you think
ChatGPT reached 800 million weekly users by September 2025, growing four times faster than social media platforms did. Major retailers began using OpenAI’s Agentic Commerce Protocol within days of its launch.
History shows people consistently underestimate how quickly they adapt to convenient technologies. Not long ago most people wouldn’t think of getting in a stranger’s car. Uber now has 150 million users.
Convenience always wins. The question isn’t whether AI shopping will become mainstream. It’s whether people will keep any real control over what they buy and why.
What you can do
The open internet gave people a world of information and choice at their fingertips. The AI revolution could take that away. Not by forcing people, but by making it so easy to let the algorithm decide that they forget what it’s like to truly choose for themselves. Buying things is becoming as thoughtless as sending a text.
In addition, a single company could become the gatekeeper for all digital shopping, with the potential for monopolization beyond even Amazon’s current dominance in e-commerce. We believe that it’s important to at least have a vigorous public conversation about whether this is the future people actually want.
Here are some steps you can take to resist the lure of convenience:
Question AI suggestions. When ChatGPT suggests products, recognize you’re seeing hand-picked choices, not all your options. Before one-tap purchases, pause and ask: Would I buy this if I had to visit five websites and compare prices?
Review your privacy settings carefully. Understand what you’re trading for convenience.
Talk about this with friends and family. The shift to AI shopping is happening without public awareness. The time to have conversations about acceptable limits is now, before one-tap purchasing becomes so normal that questioning it seems strange.
The invisible price tag
AI will learn what you want, maybe even before you want it. Every time you tap “Buy now,” you’re training it—teaching it your patterns, your weaknesses, what time of day you impulse buy.
Our warning isn’t about rejecting technology. It’s about recognizing the trade-offs. Every convenience has a cost. Every tap is data. The companies building these systems are betting you won’t notice, and in most cases they’re probably right.
This article is republished from The Conversation under a Creative Commons license. Read the original article.
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OpenAI has slipped shopping into ChatGPT users’ chats—here’s why that matters (2025, October 20)
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Tech
Spark plasma sintering and diffusion technology yield high-performance permanent magnets for green industries

A research team has developed an innovative manufacturing process for permanent magnets that overcomes the limitations of conventional techniques. The team’s breakthrough significantly advances the diffusion technology, which is essential for improving magnetic performance, and creates new possibilities for applying high-efficiency magnets in eco-friendly industries such as electric vehicles, wind turbines, and robotics.
The findings are published in the Journal of Alloys and Compounds.
The joint research team from the Nano Technology Research Division at DGIST was led by Dr. Donghwan Kim and Dr. Jungmin Kim.
With the rapid growth of the electric vehicle and wind power sectors, the demand for powerful permanent magnets capable of stable operation at high temperatures has soared. A major example is the neodymium (Nd-Fe-B) permanent magnet, widely used in electric vehicle motors. However, these magnets experience a decline in magnetic performance under extreme heat, requiring the addition of heavy rare-earth elements such as terbium (Tb) and dysprosium (Dy) to maintain their strength. The challenge is that these elements are both rare and expensive.
To address this issue, the grain boundary diffusion process has been widely adopted. This technique enhances magnetic performance by infiltrating a small amount of heavy rare-earth material into the magnet’s surface. However, diffusion in this process is limited to the surface layer and does not penetrate into the magnet’s interior, making it difficult to apply to thick magnets.
To overcome this limitation, the research team combined spark plasma sintering, an advanced manufacturing technique, with the grain boundary diffusion process. By pre-mixing the diffusion material during the powder-based magnet fabrication stage, uniform diffusion was achieved throughout the magnet. Consequently, the diffusion depth increased markedly compared with that achieved by existing methods, allowing for the creation of a core–shell structure in which the magnet exhibits uniform and enhanced magnetic performance.
Remarkably, even with the same amount of rare-earth material, the new process achieved higher diffusion efficiency and significantly improved overall performance. This advancement makes it possible to produce magnets that are smaller and lighter while maintaining strong magnetic strength. It is expected to contribute to the miniaturization, weight reduction, and improved energy efficiency of electric vehicle motors. Additionally, the process shows great potential for application to large-scale magnets.
Principal Researcher Dr. Donghwan Kim stated, “This study presents a method that overcomes the limitations of the conventional grain boundary diffusion technology, enabling uniform performance throughout the magnet. It will make a significant contribution to the development of high-performance permanent magnets required in eco-friendly energy industries such as electric vehicles and wind power generation.”
More information:
Seong Chan Kim et al, Homogeneous core-shell structure formation in Nd-Fe-B sintered magnets through advanced spark plasma sintering and internal grain boundary diffusion, Journal of Alloys and Compounds (2025). DOI: 10.1016/j.jallcom.2025.183635
Citation:
Spark plasma sintering and diffusion technology yield high-performance permanent magnets for green industries (2025, October 20)
retrieved 20 October 2025
from https://techxplore.com/news/2025-10-plasma-sintering-diffusion-technology-yield.html
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