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LinkedIn’s Top Backers Have $5.14 Billion Stake After IPO

LinkedIn Corp.’s founder Reid Hoffman and its three top venture backers own a combined stake of about $5.14 billion after an eight-year wait for the first initial public offering by a major U.S. social-media site.

Venture capitalists have led more than $100 million in investments in Mountain View, California-based LinkedIn since 2003, with Sequoia Capital amassing a holding now worth $1.59 billion, and Greylock Partners, a $1.32 billion stake. Hoffman, LinkedIn’s chairman and biggest shareholder, holds $1.8 billion and Bessemer Venture Partners has a stake worth $431.5 million.