Finally Good News for LinkedIn Founder

Finally Good News for LinkedIn Founder

Good news after 8 years for the founder of LinkedIn Corp., Reid Hoffman and three of its top venture backers. They will be jointly getting a stake amount of $2.5 billion in the recent IPO which will be launched by the company very soon.

These venture backers have invested more than $100 million in this Mountain View, California-based LinkedIn since its launch in 2003. Sequoia holding $757.8 million holding and Greylock partners a $632.2 million and Hoffman, the founder will be holding $858 million, which is the biggest. Bessemer Venture Partners will be holding stake worth $206 million.

“Any solid returns like this are clearly a great thing and there’s been too few of them in the past decade”, said Eric Risley, founder of Architect Partners, a technology merger-and- acquisition advisory firm in Menlo Park, California. “This was not an overnight success by any means”.

LinkedIn was valuing only $15 million when it was launched in the year 2003. LinkedIn has claimed that its current valuation is approximately 280 times.

According to Hani Durzy, the spokesperson of LinkedIn, it was revealed that Hoffman will be selling 1% of his stake. However, he declined to comment on this dealing.


FrenchTribune Specials

Painting could help in interesting scientific discoveries: Edward Belbruno

Renowned mathematician and author of 'Fly Me to the Moon', Edward Belbruno, uses his paintings to help interesting scientific discoveries. He regularly talks to the National Aeronautics and Space Administration (NASA) as he is also a cosmology researcher at Princeton University.

According to Belbruno, paintings can be useful in science....

Most Popular

Dogs might have First Migrated to Americas about 10,000 Years Ago: Study

A recently conducted study suggests that dogs might have...

Medical firms offering discount on Hepatitis C medication

Medical experts have said producers are offering...

212 infected with HIV due to contaminated equipment in Cambodia

Health Authorities in Cambodia have said that a total of...

Scientists develop antibiotics that overcome resistance

A team of researchers have developed an antibiotic that...

Poll

Can Greece Come out of Economic Problems: