Feeds

LinkedIn dumped by biggest sugar daddy

Shares flogged to raise $90m

Intelligent flash storage arrays

Professional networking firm LinkedIn has upped its follow-on share sale from 8 million shares to 8.75 million in a bid to raise around $92.3m for the company coffers.

At the start of the month, the web firm said it was selling more shares to increase its capital and its public float.

Yesterday, LinkedIn said it had priced the offering at $71 a share and it would be selling around 1.3 million, giving the company somewhere in the region of $90m to "provide additional working capital for LinkedIn, including further expansion of its product development and field sales organisations, for capital expenditures and potential strategic acquisitions or investments".

The remaining shares will be sold by existing stockholders, so LinkedIn "will not receive any proceeds" from these, according to the filing with the Securities and Exchange Commission.

The largest sale from stockholders is coming from Bain Capital, which is getting rid of all its stock in LinkedIn, 3.7 million shares.

Execs and directors from the company, including CEO Jeffrey Weiner, are selling off a combined 2.2 million shares.

And entities relating to Silicon Valley venture capital firm Greylock Partners – which invests in start-ups and growth stage companies – are offloading 1.4 million shares, 10 per cent of their stake. ®

Secure remote control for conventional and virtual desktops

More from The Register

next story
Spies, avert eyes! Tim Berners-Lee demands a UK digital bill of rights
Lobbies tetchy MPs 'to end indiscriminate online surveillance'
How the FLAC do I tell MP3s from lossless audio?
Can you hear the difference? Can anyone?
Inequality increasing? BOLLOCKS! You heard me: 'Screw the 1%'
There's morality and then there's economics ...
Google hits back at 'Dear Rupert' over search dominance claims
Choc Factory sniffs: 'We're not pirate-lovers - also, you publish The Sun'
While you queued for an iPhone 6, Apple's Cook sold shares worth $35m
Right before the stock took a 3.8% dive amid bent and broken mobe drama
4chan outraged by Emma Watson nudie photo leak SCAM
In the immortal words of Shaggy, it wasn't me us ... amirite?
prev story

Whitepapers

Providing a secure and efficient Helpdesk
A single remote control platform for user support is be key to providing an efficient helpdesk. Retain full control over the way in which screen and keystroke data is transmitted.
Intelligent flash storage arrays
Tegile Intelligent Storage Arrays with IntelliFlash helps IT boost storage utilization and effciency while delivering unmatched storage savings and performance.
Beginner's guide to SSL certificates
De-mystify the technology involved and give you the information you need to make the best decision when considering your online security options.
Security for virtualized datacentres
Legacy security solutions are inefficient due to the architectural differences between physical and virtual environments.
Secure remote control for conventional and virtual desktops
Balancing user privacy and privileged access, in accordance with compliance frameworks and legislation. Evaluating any potential remote control choice.