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

Scientists identify protein that plays central role on heart beats

A team of scientists has said that it has identified a protein that plays a central role incontinuous heartbeat and they belie that the discovery can help develop new cures for heart problems.

Experts have said that heart beats should be precisely calibrated as even a small divergence from the metronomic rhythm may cause problems and...

Most Popular

Researchers working to find cure for Asthma

Scientists working to develop a cure for asthma have...

Study suggest no purchase of drugs costing more than £13,000

A team of experts have suggested that the NHS should...

Scientists Created Method of Data Storage that can Encode Data into Strands of D

The Swiss Federal Institute of Technology has made an...

American Bald Eagle population reaches comfortable level

According to a recent report from wildlife experts,...

Poll

Can Greece Come out of Economic Problems: