Blockstream said it raised a $21 million seed round from nearly 40 investors. The round was led by Reid Hoffman, Khosla Ventures and Real Ventures, and joined by Nicolas Berggruen, Crypto Currency Partners, Future\Perfect Ventures, Danny Hillis, Eric Schmidt’s Innovation Endeavors, Max Levchin, Mosaic Ventures, Ray Ozzie, Ribbit Capital, Jerry Yang’s AME Cloud Ventures and others, according to a company blog post.Continue
This post was originally published on Nov. 02, 2010. We are republishing it today in [...]Continue
Second Opinion has news about Apple's $99 iPhone, Intel building tiny chips for wearable devices, [...]Continue
Facebook stock is likely an attractive long-term buy, Y Combinator might be seeing stress signs from its expansion, and Greylock Partner’s Discovery Fund is now three-quarters through its $20 million in capital. So says Reid Hoffman.Continue
In the 40 years since the publication of What Color Is Your Parachute, the job [...]Continue
Joanna Rees has been riding buses and knocking on doors to drum up support for her campaign to become the next mayor of San Francisco, and she’s been doing it in her Chanel pumps, according to at least two newspaper accounts. It’s easy to laugh at the image, but the onetime venture capitalist, who reportedly […]Continue
Josh Silverman has just been named head of American Express’s U.S. consumer services unit, which manages consumer cards and travel services. A repeat entrepreneur who, at 41, has already made more career moves than most people in their lifetimes, Silverman is joining American Express from Greylock Partners, which brought him on as an entrepreneur-in-residence last […]Continue
Remember when I speculated that the LinkedIn IPO might not make Reid Hoffman a billionaire? Open mouth, insert foot. With LinkedIn’s initial public offering today, Herr Hoffman is a billionaire two times over (at least at LNKD’s intraday share price of more than $100).
But the LinkedIn co-founder isn’t the only one who has made out like a bandit in the IPO. Four venture firms — Bain Capital, Bessemer Venture Partners, Greylock Partners and Sequoia Capital — as a group hold shares worth in excess of $4 billion.
Following is a slideshow of the top 10 biggest winners in the IPO — based on LNKD’s price of $107.00 per share at 12:27 p.m. EDT. Given that the stock zoomed from an opening price of $80 to as much as $122.70 today, it is anyone’s guess as to where it will finally close at the end of the day. Still, that won’t affect our rankings.Continue
LinkedIn’s IPO was the big story Wednesday, and it promises to top the news again Thursday when its shares start trading on the NYSE. The company’s bankers priced its shares at $45 apiece — the top of their range, and much higher than the $32 to $35 range anticipated just a week earlier — giving […]Continue
LinkedIn sought to capitalize on the pent-up demand for social media companies by announcing Tuesday that it would boost the offering price of its shares by 30%, implying a market capitalization of more than $4 billion. Shares of the social networking site for business professionals are expected to begin trading on Thursday at an offering […]Continue
In this week’s Social Scene, Eric Schmidt is building fancy new digs for his personal VC firm; Joanna Rees has convinced Reid Hoffman, Marc Pincus and others to back her bid to be mayor of San Francisco; Vinod Khosla says he will donate half of his fortune to charity; Mark Kvamme is moving to Ohio (seriously!); Jeff Bussgang hangs with the famed SEAL Team 6, Robert Simon, Eric Wright and Katja Gehrt all have birthdays coming up, and more.
Schmidt in building mode
Onetime Google CEO Eric Schmidt is building out the “entire top floor” of a building in downtown Palo Alto, Calif., for his personal investment firm, Tomorrow Ventures, reports Peter Delevett of the San Jose Mecury News.
Delevett spoke to a commercial real estate broker who speculatedContinue
LinkedIn offered more details of its pending IPO on Monday, along with the news it plans to float its shares to the public on May 19. Undoubtedly, the offering will be a great success. LinkedIn is the first major social networking company to enter the public realm, and pent up enthusiasm for social media companies […]Continue
If your grad school was the only determining factor in getting onto Forbes magazine’s Midas List of top venture capitalists, which school should you attend?
A.) Harvard Business School
B.) Stanford Business School
The next big technology shift is right around the corner. We just don’t know what it is. Or better said, we don’t know its consequences. That’s what makes predicting the future difficult and why Ben Horowitz, general partner at Andreessen Horowitz, and Reid Hoffman, partner at Greylock Partners and executive chairman of LinkedIn, deserve credit […]Continue
Want to catch up on what your colleagues found most interesting on peHUB over the past seven days? Here are our posts with the most pageviews from Jan. 28 to Feb. 4:
1. The House That Sean Parker’s Facebook Money Just Bought – by Connie Loizos, posted on Jan. 31.
2. Insight Venture Partners Raises One *Billion* Dollars – by Connie Loizos, posted on Jan 31.
3. Private Equity at Davos: What They’re Saying – by Gregory Roth, posted on Jan. 31.
4. No Respect for “Most Respected VCs” List – by Lawrence Aragon, posted on Feb. 3.
5. Jefferies Ousts Asset Management Bankers – by Luisa Beltran, posted on Feb. 1
6. Why Is Accel Ramping Its Cleantech Effort, While Others Seem To Pull Back? – by Mark Boslet, posted on Jan. 28.
7. Tony Conrad: If You Sell Your Startup, Don’t Be a Punk About it Afterward – by Connie Loizos, posted on Feb. 4
8. Maybe Reid Hoffman Won’t Be an Instant Billionaire – by Lawrence Aragon, posted on Jan. 27
9. Lots of Demand for EnCap’s $3.5B Pool, But Fundraising Not So Easy – by Luisa Beltran, posted on Feb. 1
10. LinkedIn: One Class of Stock Too Many – by Connie Loizos, posted on Feb. 3Continue
Am I the only one who was disappointed with LinkedIn’s financials when it filed its S-1 today?
The first thing I did when I opened its S-1 was to look at the stock holdings of Reid Hoffman (pictured), its founder. Wow, I thought to myself, Hoffman owns about 19 million shares, making him the company’s largest shareholder, with a 21.4% stake. Assuming – conservatively, I thought – the stock goes to 100 bucks within six months, Hoffman is sitting on just under $2 billion. (Note that LinkedIn has not priced its shares yet.)
The company’s VC backers would also make a mint under my initial thinking, most notably Sequoia Capital, with 16.8 million shares, or an 18.9% stake; and Greylock Partners (where Hoffman is a general partner), with about 14 million shares, or a 15.8% stake. (Bessemer Partners holds about 4.6 million shares, or a 5.1% stake.) (See table below.)
Then I looked at LinkedIn’s financials and I felt deflated.Continue
Reid Hoffman is known for many things, including founding LinkedIn, popularizing angel investing, becoming a venture capitalist at Greylock Partners, and having a giant brain. But he can also be conservative. For example, despite years of pleas from users and LinkedIn’s board members to add photos to the site, Hoffman refused, arguing that they could […]Continue
If you want to get inside the head of one of the world’s most successful angel investors, take 12 minutes out of your day to watch the following video of Reid Hoffman. Hoffman is a partner with Greylock Partners, co-founder of LinkedIn and an angel investor in more than 80 startups, including Facebook and Zynga. […]Continue