Linden Lab investor sold 10 percent stake — report
By Adam Reuters
SECOND LIFE, Nov 5 (Reuters) - Catamount Ventures, an early investor in Linden Lab, sold a 10 percent stake in the company to an unknown third party for at least US$500 million earlier this year, the Web site TechCruch reported on Monday.
“Jed Smith, the Catamount Managing Director who sits on the board of Second Life’s parent company, Linden Labs, confirmed today that they did sell part of their holdings - 10% - to a third party eight months ago,” TechCrunch’s Michael Arrington reported. “But he would not comment on the price of the sale. A source with knowledge of the company has said it was well above half a billion, but declined to name a specific price.”
Smith declined to comment when contacted by Reuters. Linden Lab was not immediately available.
