Feeds

LinkedIn dumped by biggest sugar daddy

Shares flogged to raise $90m

Top 5 reasons to deploy VMware with Tegile

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
The 'fun-nification' of computer education – good idea?
Compulsory code schools, luvvies love it, but what about Maths and Physics?
Ex-US Navy fighter pilot MIT prof: Drones beat humans - I should know
'Missy' Cummings on UAVs, smartcars and dying from boredom
Facebook, Apple: LADIES! Why not FREEZE your EGGS? It's on the company!
No biological clockwatching when you work in Silicon Valley
Happiness economics is bollocks. Oh, UK.gov just adopted it? Er ...
Opportunity doesn't knock; it costs us instead
'Cowardly, venomous trolls' threatened with TWO-YEAR sentences for menacing posts
UK government: 'Taking a stand against a baying cyber-mob'
Sysadmin with EBOLA? Gartner's issued advice to debug your biz
Start hoarding cleaning supplies, analyst firm says, and assume your team will scatter
Doctor Who's Flatline: Cool monsters, yes, but utterly limp subplots
We know what the Doctor does, stop going on about it already
prev story

Whitepapers

Forging a new future with identity relationship management
Learn about ForgeRock's next generation IRM platform and how it is designed to empower CEOS's and enterprises to engage with consumers.
Cloud and hybrid-cloud data protection for VMware
Learn how quick and easy it is to configure backups and perform restores for VMware environments.
Three 1TB solid state scorchers up for grabs
Big SSDs can be expensive but think big and think free because you could be the lucky winner of one of three 1TB Samsung SSD 840 EVO drives that we’re giving away worth over £300 apiece.
Reg Reader Research: SaaS based Email and Office Productivity Tools
Read this Reg reader report which provides advice and guidance for SMBs towards the use of SaaS based email and Office productivity tools.
Security for virtualized datacentres
Legacy security solutions are inefficient due to the architectural differences between physical and virtual environments.