Yahoo Just Made $68 Million In Two Days
Yahoo retained a 17%+ stake (7,572,174 shares), according to forms filed with the SEC.
The stock is trading at about $25 today, well above the initial $16 IPO price and is worth $189 million. That's a nice $68 million increase for Yahoo's investment portfolio in just two days.
That doesn't come close to the company's major investment win this year: Alibaba. It cashed out of $5 billion during the Alibaba IPO, and held onto another 400+ million shares, worth over $40 billion today.
Yahoo isn't the only enterprise investor in Hortonworks that did well with the IPO. Teradata's 7% stake is worth about $72 million and Hewlett-Packard's 5% stake is worth about $51 million. Investors Benchmark (Peter Fenton) and Index Ventures (Mike Volpi) also scored nicely with their firms' 16% and 8% stakes respectively.
As for people, the biggest windfall went to CEO Robert Bearden, who joined the company in 2012. He has a nearly 6% stake, worth about $60 million today.
It's unclear how well any of the founders did, including founding CEO Eric Baldeschwieler. He became CTO after Bearden was installed and had left by August, 2013. The company disclosed in an earlier filing that he had about 3.4 million shares, but he was not to be found in later regulatory forms at all, so he's probably sold enough shares to take him below the 5% ownership threshhold. (We've reached out to him and asked.) If he still had that full stake, it would be worth nearly $85 million.
None of the other Hortonworks founders were listed as 5% or more shareholders. But the engineering team still looked extremely happy on IPO day: