Wednesday, October 3, 2012
Lindzon Gets Exit At Lifelock
Prolific San Diego angel investor Howard Lindzon, who runs StockTwits, has scored a big exit at one of his portfolio companies, LifeLock, after the firm had its IPO this morning. Lindzon said it was an early angel investor in the company, and made his investment in 2006 at "well under a $10M valuation". Lindzon said he sold half his shares on SecondMarket in 2010. LifeLock has its IPO this morning, pricing at $9 per share and giving it a valuation of around $900M. Tempe, Arizona-based LifeLock priced below its initial estimated IPO range of $9.50 and $11.50 per share last night, and debuted at $8.38 this morning on the New York Stock Exchange under the symbol LOCK. LifeLock's venture backers include Bessemer Venture Partners, Kleiner Perkins Caufield & Byers, Goldman Sachs & Co., Symantec, and Industry Ventures; it's unclear how large of a stake Lindzon owned in the firm at IPO. Lindzon originally invested in LifeLock when he was living in Phoenix, which is where LifeLock is headquartered.