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Venture Wire, normally a bastion of “oatmeal” tasting reports has a rather risque bulletin today.
They write, “Looks like investors in Kleiner Perkins’ underperforming Fund IX – and Sequoia’s somewhat better performing Fund VIII – will have to wait a little bit longer to see the wild returns promised from the firms’ investments in Google.” Well by now you all know that Google this morning cut price talk to between $85 and $95 a share from aprevious range of $108 to $135 a share, and said only 19.6 million shares will be sold in the IPO, down from an originally intended 25.7 million shares. Notably, neither Kleiner Perkins nor Sequoia will sell any of their shares in the IPO. They had previously planned to sell 2.1 million and 2.4 million shares, respectively. Founders Larry Page and Sergey Brin have also halved the amount of shares they planned to sell.