LinkedIn is proving it pays to network. The company has filled its S-1 papers with the Security and Exchanges Comission for an initial public offering.
2010 was the year of IPOs, or at least guessing which Internet giants would hit Wallstreet first. Facebook, Demand Media and Skype were the biggest names tossed around the business networking site LinkedIn is starting 2011 as a publicly traded company.
But who owns what of LinkedIn? Previously unreleased details were revealed in its SEC filing as the company prepares to go public.
TechCrunch sifted through LinkedIn’s S-1′s papers and discovered founder/chairman Reid Hoffman along with his wife Michelle Yee own 19,066,032 shares or a 21.4% share of the company. Other notable shareholders include investors Sequoia Capital, Greylock Partners and Bessemer Venture Partners which own 18.9, 15.8 and 5.1 percent of shares respectively. Until the share prices are announced, we won’t know exactly how big the impact of say, 19 million shares is but in the mean time we can guesstimate.
But we do know the company has ~$200 million annual revenues. That’s up 200% from a year ago, so a healthy 10X valuation is entirely called for. So figure it’s a $2 billion company, pre-IPO.
That would mean LinkedIn Reid Hoffman’s 21.4% stake is worth $430 million. CEO Jeff Weiner’s is worth $80 million. Sequoia’s stake – bought for $4.7 million – is worth $380 million, Greylock’s $320 million, Bessemer’s, $100 million.
Not bad for a company that makes networking with business professionals easier. If this is LinkedIn’s IPO, what will Facebook’s monstrous IPO look like?
LinkedIn has filed the required Securities and Exchange Commission papers necessary for the company to move forward with an initial public offering.
At this time it’s still unclear how many shares the company will offer or at what price those shares will be offered at.
In 2009 the business-centric social networking site generated $120 million in revenue, with $161 million coming in through the first nine months of 2010.Those first nine months in 2010 generated $10 million in profit for the company.
Interestingly, in their filing Facebook, Twitter, Google and Microsoft are named as competitors with LinkedIn noting: read more
When social buying website Groupon turned down a $6 billion buyout offer from Google, it was a shock to many industry insiders who thought the offer was generous, but now The New York Times’ DealBook blog is reporting that the company is ready to “push ahead with plans for an initial public offering, a debut that could value the company at $15 billion or more.”
The announcement of a potential IPO comes just one week after we reported that the company raised $950 million in venture capital from various firms and expanded their reach from one to 35 countries with 500 new markets in 2010 alone, while increasing site use by 2,500% and bringing in more than 60,000 unique businesses to their marketing fold.
With talks of a “company bubble” surrounding some analysts thoughts, DealBook is reporting that Groupon is trying to raise their IPO when the goings good: read more