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

Toyota recalls 1.43M Prius and Lexus models due to defective Autoliv airbags

On Wednesday, public concern about defective automobile airbags extended from Japanese supplier Takata to Swedish-American supplier Autoliv; with bigwig automaker Toyota announcing the recall of 1.43 million Prius and Lexus CT200h hybrid vehicles equipped with Autoliv airbags.

The two models of hybrid vehicles being recalled by Toyota...

Most Popular

Uber is testing new version of its app which makes surge pricing nearly invisibl

In a recent announcement, ride-sharing service Uber has...

YouTube now allows users to livestream right from its mobile app

In a Thursday announcement, Google's popular video-...

Photo posted by Mark Zuckerberg shows taped-over laptop camera in background

On Tuesday, Facebook’s billionaire CEO Mark Zuckerberg...

Poll

Can Greece Come out of Economic Problems: