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Private Company Valuations: LinkedIn, Inc.

Posted by Justin Byers, Lead Business Intelligence Analyst on July 31, 2008

Have you ever used LinkedIn? This week the VC Experts analyst team is going to take an in depth look at some of the particular regulatory documents filed by this popular company. Our findings of the most recent financing round are listed below.

• On November 6, 2003, the company filed its first "Amended and Restated Certificate of Incorporation" under the name of LinkedIn, Ltd. The results of this filing were:

  • Authorized the company to issue 18,000,000 shares of Common Stock

  • Authorized a second class of stock to be designated as "Preferred Stock". The first series of "Preferred Stock" was designated as "Series A Preferred Stock" and consisted of 5,681,225 authorized shares. The deal terms of the "Series A Preferred Stock" were as listed below:

• On September 22, 2004, the company filed an Amendment which increased the number of authorized shares of "Series A Preferred Stock" to 5,928,618.

• On September 23, 2004, the company filed its "Second Amended and Restated Certificate of Incorporation". The results of this filing were:

  • Increase in the number of authorized "Common Stock" shares to 30,000,000

  • A second series of preferred stock was created and designated as the "Series B Preferred Stock" and it consisted of 5,918,796 authorized shares.

  • Investors of this round included Greylock Partners and Sequoia Capital

  • The deal terms of the "Series B Preferred Stock" were as listed below:

• In January 2005, the company changed its name to LinkedIn Corporation.

• On June 29, 2006, there was an Amendment filed which increased the number of authorized shares of " Series B Preferred Stock" to 5,953,884.

• On December 29, 2006, the company filed its "Third Amended and Restated Certificate of Incorporation". The results of this filing were:

  • Increase the number of authorized "Common Stock" shares to 35,000,000

  • Decrease the authorized number of "Series B Preferred Stock" shares back to 5,918,795.

  • A third series of preferred stock was created and designated as the "Series C Preferred Stock" and it consisted of 1,452,548 authorized shares.

  • Investors in this round included Bessemer Venture Partners and an undisclosed firm

  • The deal terms of the "Series C Preferred Stock" were as listed below:

• On May 22, 2007, the company filed its "Fourth Amended and Restated Certificate of Incorporation". Upon the filing of this Amended and Restated Certificate of Incorporation, there was a 1 to 3 "stock split" of every issued and outstanding share of the companies Common and Preferred stock. The adjusted authorized share amounts and price amounts of each class and series were as follows:

  • The total number of shares of Common Stock authorized was adjusted to 105,000,000

  • The total number of shares of Series A Preferred stock authorized was adjusted to 17,785,854 and the Series A Preferred price per share was adjusted to $.31977.

  • The total number of shares of Series B Preferred stock authorized was adjusted to 17,756,385 and the Series B Preferred price per share was adjusted to $.57303.

  • The total number of shares of Series C Preferred stock authorized was adjusted to 4,357,644 and the Series C Preferred price per share was adjusted to $2.93737.

• On June 13, 2008, the company filed its "Fifth Amended and Restated Certificate of Incorporation". The results of this filing were:

  • Increase the number of authorized "Common Stock" shares to 110,000,000

  • Decrease the authorized number of "Series A Preferred Stock" shares to 17,238,579

  • Decrease the authorized number of "Series B Preferred Stock" shares to 17,450,991

  • A fourth series of preferred stock was created, "Series D Preferred Stock" and it consisted of 6,800,349 authorized shares

  • Investors in this round included Bain Capital, Sequoia Capital, Greylock Partners, and Bessemer Venture Partners

  • The deal terms of the "Series D Preferred Stock" were as listed below:

Cost of Capital Benchmark (What's This?)

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