LinkedIn and investment firm Tiger Global both filed separate SEC filings yesterday evening indicating that the firm loaded up on LinkedIn stock both before and after the company’s IPO in May.
According to the filing, a Tiger’s head Chase Coleman and Tiger fund, PIP V, acquired 2,436,001 shares of preferred and common stock of LinkedIn on secondary markst, from December 21, 2009 to August 10, 2010, for $31,740,600.70. Some of Tiger’s investment during this time was reported, but the filing shows Tiger had a much bigger stake.
LinkedIn Holdings, another Tiger/Coleman vehicle, acquired 1,306,927 shares of LinkedIn stock on secondary markets from August 10, 2010 to April 15, 2011, for $29,796,007.50.
And post IPO, which took place on May 19, Tiger Funds purchased 300,000 Class A Common Shares, for a purchase price of $45.00 per Share or $13,500,000.
While we knew Coleman was buying up shares of LinkedIn, we didn’t know it was to the tune of over $75,000,000. And Coleman himself now owns a little over 4 percent of LinkedIn, according to the filing. The filing also states that Coleman has agreed to not offer or sell any shares for a period of 180 days from the offering in May.
LinkedIn’s IPO priced at $45 per share, but started trading at $83 per share, giving the company a market cap of $7.8 billion. Shares have since dropped to $77.92 per share.
Tiger has made a number of investments in large internet companies including Zynga, Facebook and Yandex, which just went public two weeks ago. On the public markets, Tiger has recently bought stakes in Amaxon, Apple and Netflix. Tiger Global has $1 billion in commitments and is reportedly raising another $1.25 billion for a new fund.
We’ve confirmed Tiger’s stock purchases with LinkedIn.
