Greylock Partners Announces $575 Million Venture Fund

Reid Hoffman, Angel Investor and LinkedIn Co-Founder, Joins the Firm as Partner
While Continuing as LinkedIn Executive Chairman

SAN MATEO, Calif.--(Business Wire)--
Greylock Partners, a Silicon Valley venture capital firm, today announced the
closing of Greylock XIII, a $575 million fund. The firm also announced the
addition of a new investing partner, LinkedIn Co-Founder and Executive Chairman
Reid Hoffman.

Greylock will use the funds to invest in and support promising enterprise and
consumer software, services and infrastructure ventures.

"We are thankful to count among our investors some of the most sophisticated and
respected university endowments and family foundations, many of which have been
enthusiastic supporters of Greylock since our founding in 1965," says Greylock
Partner Bill Helman.

"In this difficult environment, all investors need to be particularly selective
about the funds in which they invest," says Andrew K. Golden, President,
Princeton University Investment Co. "We are enthusiastic about Greylock and
pleased that the firm allows us to be such a close partner. Our investment in
Greylock XIII represents the lion`s share of the commitments we plan to make to
venture capital funds this year."

"Over the past forty-four years we have partnered with entrepreneurs to build
hundreds of successful businesses, 150 of which have gone on to IPOs and another
100 of which have gone on to profitable M&A events," says Greylock Partner Aneel
Bhusri. "We look forward to partnering with the next generation of entrepreneurs
to help them create strong, significant businesses."

Recent and current consumer companies Greylock has supported include Digg,
Facebook, Farecast (Microsoft), LinkedIn, Pandora, and ZipCar. Recent and
current enterprise companies Greylock has supported include Cloudera, Constant
Contact (CTCT), Data Domain (EMC), Data Robotics, OutlookSoft (SAP), Palo Alto
Networks, Polyserve (HP), Red Hat (RHT), Success Factors (SFSF), Wily Technology
(CA), and Workday.

Reid Hoffman joins Greylock as a partner. He will remain active day-to-day at
LinkedIn as Executive Chairman. In his role at Greylock Partners, Hoffman will
invest in promising early-stage consumer Internet and software ventures, as well
as coach and advise entrepreneurs of Greylock portfolio companies.

"I have worked closely with Reid as a board director at LinkedIn for the past
five years and am thrilled to welcome him to the partnership," says David Sze, a
partner at Greylock. Sze leads the firm`s investments in LinkedIn as well as
Digg, Facebook, Pandora and others. "At Greylock we place a high value on hiring
partners with deep operating experience at companies with explosive growth. Reid
also possesses a unique understanding of consumer behavior and the dynamics of
viral businesses, and that has made him one of the most sought after advisors to
start-ups."

"As a Greylock entrepreneur I witnessed firsthand the firm`s ability to help
entrepreneurs become successful by focusing on company building and staying true
to the firm`s values. I look forward to continuing that legacy," says Hoffman.
"I am deeply passionate about partnering with entrepreneurs to build companies
that make a lasting impact."

An accomplished entrepreneur, executive and investor, Hoffman has played an
integral part in building many of today`s leading consumer technology
businesses. Hoffman co-founded LinkedIn, the world`s largest professional
networking service, in 2003. Today LinkedIn counts 50 million members in 200
countries. Reid led LinkedIn through its first four years and has held multiple
positions there, including chief executive, president and chairman.

Prior to LinkedIn Hoffman served as executive vice president at PayPal, where he
was a founding board member. Previously he co-founded Socialnet.com and worked
at Fujitsu Software Corp. and Apple Computer. Hoffman is a Director at Kiva.org,
Mozilla Corp., Six Apart and Zynga. He has been an angel investor in numerous
influential Internet companies, including Digg, Facebook, Flickr, Last.fm, Ning,
Six Apart and Zynga.

Hoffman earned a Master`s degree in Philosophy from Oxford University, where he
was a Marshall Scholar, and a Bachelor`s degree in Symbolic Systems from
Stanford University, where he graduated with distinction.

About Greylock

Greylock has partnered with entrepreneurs for 44 years to help them build
market-leading businesses. Among the companies Greylock has supported are Ascend
Communications, CheckFree, CipherTrust, Cloudera, Constant Contact, Continental
Cable, Decru, Data Domain, digg, DoubleClick, Facebook, Farecast, Internet
Security Systems, Ikanos, Legato, LinkedIn, Media Metrix, Millennium
Pharmaceuticals, Openwave, Open Market, Pandora, Red Hat, RightNow Technologies,
Success Factors, Tellabs, Trilogy, Wily Technology, Workday and Zipcar.

Greylock operates in a number of global centers of innovation, including Boston,
China (Beijing), India (Bangalore), Israel (Herzliya) and Silicon Valley. For
more information about Greylock Partners, please visit www.greylock.com or
http://www.facebook.com/greylock.

Greylock Partners
Erika Brown, 650-493-5525
ebrown@greylock.com

Copyright Business Wire 2009