Arik Hesseldahl

Recent Posts by Arik Hesseldahl

Check Out Who’s Getting Rich on Jive’s IPO Today

Shares of Jive Software will debut for trading sometime after 10 am ET, after officially pricing last night at $12 a share, higher than the range of $8 to $10 a share originally expected.

At that price, Jive will debut with a market capitalization of nearly $700 million, and has raised about $161 million.

The offering will amount to a nice payout for Jive’s investors and shareholders. Based on the reported share holdings in Jive’s S-1 filing with the SEC, here’s how some of them are making out — assuming the share price stays at $12:

  • Sequoia Capital: 16.95 million shares, amounting to more than one-third of Jive’s equity, worth $203.4 million.

  • Kleiner Perkins: 6.7 million shares, worth $80 million.
  • Bill Lynch, Matthew Tucker: Jive’s co-founders own 7.1 million shares each, amounting to combined equity of nearly 32 percent, worth $85 million apiece.
  • CEO Tony Zingale, the former CEO of Mercury Interactive who oversaw its sale to Hewlett-Packard, has 3.6 million shares, worth $43 million.
  • John McCracken, Jive’s senior VP of worldwide sales, has 784,000 shares, worth $9.4 million.
  • CFO Bryan J. LeBlanc has 694,000 shares, worth $8.3 million.
  • Bill Lanfri, a Jive director, former CEO of Big Bear Networks (a Sequoia investment), and a founding investor in RedBack Networks, has 581,000 shares, worth $7 million.
  • Robert F. Brown, Jive’s senior VP of client services, has 434,000, worth $5.2 million.
  • Brian J. Roddy, senior VP of engineering, has 429,000 shares, worth $5.1 million.

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I think the NSA has a job to do and we need the NSA. But as (physicist) Robert Oppenheimer said, “When you see something that is technically sweet, you go ahead and do it and argue about what to do about it only after you’ve had your technical success. That is the way it was with the atomic bomb.”

— Phil Zimmerman, PGP inventor and Silent Circle co-founder, in an interview with Om Malik