LinkedIn founder Reid Hoffman, now a Greylock Partners partner, will see a nice little windfall by selling off 115,335 shares – just over $4 million. Hoffman will still hold more than 20% of the company and remain its largest shareholder, with a stake worth $663.3 million. That assumes the IPO prices at the upper end of its range, which would give the company a market cap of $3.31 billion.
Sequoia Capital, Greylock Partners and Bessemer Venture Partners won’t be seeing any of the windfall, though – at least not yet. LinkedIn’s top VC backers are not selling shares in the offering, banking on the stock to rise after its debut.
Sequoia will own 17.8% of the company after its shares get diluted, making its stake worth a potential $589.4 million or so at the upper-range market cap. Greylock’s 14.9% stake would be valued at $491.7 million, and Bessemer’s 4.8% stake would be worth about $160.2 million.
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