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

Killer whales seen in Large Number in Pacific Northwest

According to whale researchers, killer whales known as exotic or outer-coastal orcas that were rarely seen in the Pacific Northwest have been seen in big numbers this fall in Washington State's inland waters and British Columbia.

According to the Seattle Times, the outer-coastal orcas eat other mammals and have been spotted mostly close...

Most Popular

Fierce Sea Creature Caught on Video for First Time

For the first time, a nightmare-inducing sea creature...

Bonsoy to pay $25 million to those 'poisoned' by soy milk

Bonsoy, a leading soy milk brand, has said that it has...

Time magazine includes Mangalyaan among best inventions of 2014

Time magazine has announced the list of best inventions...

Tiger Sharks Tracked to find out Its Movements

Many myths will be cleared with a new study based on the...

Poll

Can Greece Come out of Economic Problems: