The company has more than 135 million members.Īnalyst Mark May at Barclays Capital says he remains bullish on LinkedIn. It was its first as a public company, as LinkedIn spends to expand its offerings around the globe. It posted a loss in the third quarter as its revenue more than doubled. LinkedIn's initial public offering was the biggest tech IPO since Google in 2004. LinkedIn also said it plans to sell almost 1.3 million shares to propel its growth. LinkedIn closed as high as $109.97 in July but fell to the low $70 range in August. LinkedIn has benefited from the limited number of shares currently trading. The sales will nearly double the number of shares available on the stock market. 21 when the company's six-month lockup ends. LinkedIn insiders will hit the sell button Nov. His stake in the company is worth more than $1 billion. Chairman and company co-founder Reid Hoffman isn't selling any shares. LinkedIn Chief Executive Jeff Weiner, its Chief Financial Officer Steven Sordello and director David Sze are each selling 10 percent of their holdings. Bain led a $53 million investing round in LinkedIn in 2008 that valued the company at more than $1 billion. They are looking to realize gains in the stock, which has risen 74 percent since its initial public offering in May.īain Capital is unloading its entire stake in the professional networking company now that the lockup period restricting insider sales is expiring, according to filings with the Securities and Exchange Commission. ![]() ![]() SAN FRANCISCO - The LinkedIn lockup is almost over and shareholders are winding up to sell more than 6.7 million shares.
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