Bain Capital Ventures Unlinks from LinkedIn

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Bain Capital Ventures — who holds 3.71million shares in the professional networking site LinkedIn Corp (NYSE:LNKD) –will sell its entire holding in the company’s forthcoming secondary stock offering.

According to a filing with the SEC today, LinkedIn proposes to sell up to 9.2 million shares for $703 million, of which existing stockholders will tender 6.73 million shares. These sellers include Chief Executive Officer Jeff Weiner, Chief Financial Officer Steven Sordello and director David Sze, each selling 10 percent of his holdings.

Bain Capital Ventures had participated in a June 2008 funding of LinkedIn (NYSE:LNKD) that raised $53 million, valuing it at more than $1 billion. LinkedIn (NYSE:LNKD) made its IPO in May at an initial price of $45, with the stock vaulting to $122.70 on the first day of trading. At the proposed maximum offering price of $76.44 in the proposed secondary issue, Bain’s stake could be valued about $283.2 million.

Here’s how popular social media stocks are trading on the news:

  • Linkedin Corp. (NYSE:LNKD): The shares recently traded at $75.14, down $3.35, or 4.27%. Its market capitalization is $7.25 billion. They have traded in a 52-week range of $60.14 to $122.70. Volume today was 341,227 shares versus a 3-month average volume of 785,831 shares. The company’s trailing P/E is 536.71, while trailing earnings are $0.14 per share. About the company: LinkedIn Corporation operates a social networking website used for professional networking. The Company’s website allows members to post a profile of their professional expertise and accomplishments. LinkedIn allows members to be introduced to potential clients, service providers, and subject experts. Get the most recent company news and stock data here >>
  • Groupon, Inc. (NASDAQ:GRPN): The shares recently traded at $23.78, down $0.29, or 1.2%. Its market capitalization is $15.17 billion. They have traded in a 52-week range of $22.76 to $31.14. Volume today was 104,358 shares versus a 3-month average volume of 10,481,300 shares. The company’s trailing earnings are $-2.17 per share. About the company: Groupon advertises a daily deal, typically a half-off coupon for anything from a local restaurant or retail store to a hotel or spa; if enough consumers buy the coupon online by midnight, the deal is on and the featured business can achieve a nice chunk in sales. Get the most recent company news and stock data here >>
  • Pandora Media Inc. (NYSE:P): The shares recently traded at $12.74, up $0.04, or 0.31%. Its market capitalization is $2.05 billion. They have traded in a 52-week range of $9.33 to $26.00. Volume today was 27,083 shares versus a 3-month average volume of 772,455 shares. The company’s trailing earnings are $-0.59 per share. About the company: Pandora is an internet radio station generating playlists based on a user’s favorite artist or song. Pandora’s service, free to its more than 80 million registered users and available only in the US, is supported by local and national advertising. Pandora chief strategy officer Tim Westergren founded the company in 2000. Get the most recent company news and stock data here >>

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