Chase Coleman's Tiger Global disclosed a 4.2% activist stake in LinkedIn (LNKD) on Friday. Tiger Global purchased 300 K shares of LinkedIn at the IPO price of $45 per share. However, they made the following purchases weeks before the IPO:
1. 10,000 shares of Issuer's common stock for $34.00 per share on March 24, 2011.
2. 12,500 shares of Issuer’s common stock for $30.79 per share on April 15, 2011.
3. 12,500 shares of Issuer’s common stock for $30.79 per share on April 15, 2011.
4. 19,270 shares of Issuer’s common stock for $35.00 per share on April 15, 2011.
5. 7,000 shares of Issuer’s common stock for $35.00 per share on April 15, 2011.
This is still pocket change though. Coleman's biggest investment isn't in LinkedIn's Class A shares which has one vote per share. Coleman's biggest investment is in LinkedIn's Class B shares which has 10 votes per share. Coleman has 3.74 Million Class B shares of LinkedIn. Currently Tiger Global has more than $300 Million invested in LNKD. Their original investment in the company is probably less than $100. Last July Coleman paid $21.50 per share for 1 percent of the company. Given LNKD's current price of $77, it is clear that Chase Coleman made out like a bandit in LinkedIn. He is also an investor in Facebook. He is probably the best performing hedge fund manager in 2010 (among the hedge funds with $1+ Billion in AUM).