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

James Cameron’s ‘Deepsea Challenge 3D’ losing steam at the Box Office

'Deepsea Challenge 3D' failed to live up to status that James Cameron's other documentaries had, as it opened this weekend in 304 theaters with just $147,000 earning.

Cameroon's earlier documentaries, like 'Aliens of the Deep', performed much better when opened to $479,368 on 27 theaters in 2005 and ultimately collected $12 million....

Most Popular

‘Super Moon’ In The Sky This Full Moon Night

The full month that will be seen this month is a so...

On Sunday ISEE-3 reboot Mission to Begin

On Sunday a vintage, thirty six year old satellite from...

Study: Parents could be the biggest distraction for teens behind the wheel

At the annual convention of the American Psychological...

BMWs sales increased 8.4% in July, but lead over Audi shrinks

In an apparent indication that luxury car manufacturer...


Can Greece Come out of Economic Problems: