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

Obama Administration Approves Seismic Testing in Atlantic to Find Oil

The Obama administration has finally given a green signal to conduct studies in the Atlantic Ocean to find oil and gas by using sonic air cannons, despite concerns from environmental groups that sound reverberating through waters will threaten whales and other marine life.

It has been estimated by government that at least 138,000 whales...

Most Popular

Yen Picks up overnight after Malaysia Jet Crash

The Japanese yen which had weakened against other major...

Microsoft starts accepting ‘right to be forgotten’ requests from European reside

In compliance with the Court of Justice of the European...

Helping Hand from Wrist-Mounted Robot

A new wrist-mounted robot can provide a helping hand...

Poll

Can Greece Come out of Economic Problems: