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It isn’t the CEO, but the technical brains that wins the biggest. One for the engineering talent on this one.
— Boston-based VC firm General Catalyst Partners, largest Kayak shareholder, stands to receive $417 million. It owns 10.4 million shares in Kayak following the IPO, a 26.7% stake. The firm actually increased its ownership by 300K shares during the process, reportedly to make up for the tepid initial response from institutional investors in the IPO deal.
— Sequoia Capital holds 16 percent of Kayak (worth $251 million), Accel Partners holds 12 percent ($195 million) and Oak Investment Partners holds 10.5 percent ($166 million).
— And on the management side, co-founder and CTO Paul English, the technical brains behind Kayak’s success, stands to receive $122 million through his 7.8 percent stake, while Kayak CEO and co-founder Steve Hafner stands to receive $94 million via his 6 percent ownership.
This of course won’t all be in cash: in fact most of it won’t be, as Priceline’s $1.8 billion price is only about $500 million in cash and $1.3 billion in equity and stock options based on some restrictions.