Table of Contents
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
SCHEDULE 13D
Under the Securities Exchange Act of 1934
(Amendment No. 2 )*
Technology Crossover Ventures
528 Ramona Street
Palo Alto, California 94301
Telephone: (650) 614-8200
Receive Notices and Communications)
If the filing person has previously filed a statement on Schedule 13G to report the acquisition that is the subject of this Schedule 13D, and is filing this schedule because of §§240.13d-1(e), 240.13d-1(f) or 240.13d-1(g), check the following box.o
Note:Schedules filed in paper format shall include a signed original and five copies of the schedule, including all exhibits. See §240.13d-7 for other parties to whom copies are to be sent.
* The remainder of this cover page shall be filled out for a reporting person’s initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter disclosures provided in a prior cover page.
The information required on the remainder of this cover page shall not be deemed to be “filed” for the purpose of Section 18 of the Securities Exchange Act of 1934 (“Act”) or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).
Table of Contents
1 | NAMES OF REPORTING PERSONS: TCV V, L.P. I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY): | ||||||||||
2 | CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS): | ||||||||||
(a) o | |||||||||||
(b) þ | |||||||||||
3 | SEC USE ONLY: | ||||||||||
4 | SOURCE OF FUNDS (SEE INSTRUCTIONS): | ||||||||||
AF, OO | |||||||||||
5 | CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e): | ||||||||||
o | |||||||||||
6 | CITIZENSHIP OR PLACE OF ORGANIZATION: | ||||||||||
DELAWARE | |||||||||||
7 | SOLE VOTING POWER: | ||||||||||
NUMBER OF | 2,384,062 SHARES OF COMMON STOCK (A) | ||||||||||
SHARES | 8 | SHARED VOTING POWER: | |||||||||
BENEFICIALLY | |||||||||||
OWNED BY | -0- SHARES OF COMMON STOCK | ||||||||||
EACH | 9 | SOLE DISPOSITIVE POWER: | |||||||||
REPORTING | |||||||||||
PERSON | 2,384,062 SHARES OF COMMON STOCK (A) | ||||||||||
WITH | 10 | SHARED DISPOSITIVE POWER: | |||||||||
-0- SHARES OF COMMON STOCK | |||||||||||
11 | AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON: | ||||||||||
2,384,062 SHARES OF COMMON STOCK (A) | |||||||||||
12 | CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS): | ||||||||||
o | |||||||||||
13 | PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11): | ||||||||||
5.82% | |||||||||||
14 | TYPE OF REPORTING PERSON (SEE INSTRUCTIONS): | ||||||||||
PN |
Table of Contents
1 | NAMES OF REPORTING PERSONS: TCV MEMBER FUND, L.P. I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY): | ||||||||||
2 | CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS): | ||||||||||
(a) o | |||||||||||
(b) þ | |||||||||||
3 | SEC USE ONLY: | ||||||||||
4 | SOURCE OF FUNDS (SEE INSTRUCTIONS): | ||||||||||
AF, OO | |||||||||||
5 | CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e): | ||||||||||
o | |||||||||||
6 | CITIZENSHIP OR PLACE OF ORGANIZATION: | ||||||||||
CAYMAN ISLANDS | |||||||||||
7 | SOLE VOTING POWER: | ||||||||||
NUMBER OF | 44,938 SHARES OF COMMON STOCK (A) | ||||||||||
SHARES | 8 | SHARED VOTING POWER: | |||||||||
BENEFICIALLY | |||||||||||
OWNED BY | -0- SHARES OF COMMON STOCK | ||||||||||
EACH | 9 | SOLE DISPOSITIVE POWER: | |||||||||
REPORTING | |||||||||||
PERSON | 44,938 SHARES OF COMMON STOCK (A) | ||||||||||
WITH | 10 | SHARED DISPOSITIVE POWER: | |||||||||
-0- SHARES OF COMMON STOCK | |||||||||||
11 | AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON: | ||||||||||
44,938 SHARES OF COMMON STOCK (A) | |||||||||||
12 | CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS): | ||||||||||
o | |||||||||||
13 | PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11): | ||||||||||
Less than 1% | |||||||||||
14 | TYPE OF REPORTING PERSON (SEE INSTRUCTIONS): | ||||||||||
PN |
Table of Contents
1 | NAMES OF REPORTING PERSONS: TECHNOLOGY CROSSOVER MANAGEMENT V, L.L.C. I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY): | ||||||||||
2 | CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS): | ||||||||||
(a) o | |||||||||||
(b) þ | |||||||||||
3 | SEC USE ONLY: | ||||||||||
4 | SOURCE OF FUNDS (SEE INSTRUCTIONS): | ||||||||||
AF, OO | |||||||||||
5 | CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e): | ||||||||||
o | |||||||||||
6 | CITIZENSHIP OR PLACE OF ORGANIZATION: | ||||||||||
DELAWARE | |||||||||||
7 | SOLE VOTING POWER: | ||||||||||
NUMBER OF | 2,429,000 SHARES OF COMMON STOCK (A) | ||||||||||
SHARES | 8 | SHARED VOTING POWER: | |||||||||
BENEFICIALLY | |||||||||||
OWNED BY | -0- SHARES OF COMMON STOCK | ||||||||||
EACH | 9 | SOLE DISPOSITIVE POWER: | |||||||||
REPORTING | |||||||||||
PERSON | 2,429,000 SHARES OF COMMON STOCK (A) | ||||||||||
WITH | 10 | SHARED DISPOSITIVE POWER: | |||||||||
-0- SHARES OF COMMON STOCK | |||||||||||
11 | AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON: | ||||||||||
2,429,000 SHARES OF COMMON STOCK (A) | |||||||||||
12 | CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS): | ||||||||||
o | |||||||||||
13 | PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11): | ||||||||||
5.93% | |||||||||||
14 | TYPE OF REPORTING PERSON (SEE INSTRUCTIONS): | ||||||||||
PN |
Table of Contents
1 | NAMES OF REPORTING PERSONS: JAY C. HOAG | ||||||||||
2 | CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS): | ||||||||||
(a) o | |||||||||||
(b) þ | |||||||||||
3 | SEC USE ONLY: | ||||||||||
4 | SOURCE OF FUNDS (SEE INSTRUCTIONS): | ||||||||||
AF, OO | |||||||||||
5 | CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e): | ||||||||||
o | |||||||||||
6 | CITIZENSHIP OR PLACE OF ORGANIZATION: | ||||||||||
UNITED STATES CITIZEN | |||||||||||
7 | SOLE VOTING POWER: | ||||||||||
NUMBER OF | -0- SHARES OF COMMON STOCK | ||||||||||
SHARES | 8 | SHARED VOTING POWER: | |||||||||
BENEFICIALLY | |||||||||||
OWNED BY | 2,429,000 SHARES OF COMMON STOCK (A) | ||||||||||
EACH | 9 | SOLE DISPOSITIVE POWER: | |||||||||
REPORTING | |||||||||||
PERSON | -0- SHARES OF COMMON STOCK | ||||||||||
WITH | 10 | SHARED DISPOSITIVE POWER: | |||||||||
2,429,000 SHARES OF COMMON STOCK (A) | |||||||||||
11 | AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON: | ||||||||||
2,429,000 SHARES OF COMMON STOCK (A) | |||||||||||
12 | CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS): | ||||||||||
o | |||||||||||
13 | PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11): | ||||||||||
5.93% | |||||||||||
14 | TYPE OF REPORTING PERSON (SEE INSTRUCTIONS): | ||||||||||
IN |
Table of Contents
1 | NAMES OF REPORTING PERSONS: RICHARD H. KIMBALL I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY): | ||||||||||
2 | CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS): | ||||||||||
(a) o | |||||||||||
(b) þ | |||||||||||
3 | SEC USE ONLY: | ||||||||||
4 | SOURCE OF FUNDS (SEE INSTRUCTIONS): | ||||||||||
AF, OO | |||||||||||
5 | CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e): | ||||||||||
o | |||||||||||
6 | CITIZENSHIP OR PLACE OF ORGANIZATION: | ||||||||||
UNITED STATES CITIZEN | |||||||||||
7 | SOLE VOTING POWER: | ||||||||||
NUMBER OF | -0- SHARES OF COMMON STOCK | ||||||||||
SHARES | 8 | SHARED VOTING POWER: | |||||||||
BENEFICIALLY | |||||||||||
OWNED BY | 2,429,000 SHARES OF COMMON STOCK (A) | ||||||||||
EACH | 9 | SOLE DISPOSITIVE POWER: | |||||||||
REPORTING | |||||||||||
PERSON | -0- SHARES OF COMMON STOCK | ||||||||||
WITH | 10 | SHARED DISPOSITIVE POWER: | |||||||||
2,429,000 SHARES OF COMMON STOCK (A) | |||||||||||
11 | AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON: | ||||||||||
2,429,000 SHARES OF COMMON STOCK (A) | |||||||||||
12 | CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS): | ||||||||||
o | |||||||||||
13 | PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11): | ||||||||||
5.93% | |||||||||||
14 | TYPE OF REPORTING PERSON (SEE INSTRUCTIONS): | ||||||||||
IN |
Table of Contents
1 | NAMES OF REPORTING PERSONS: JOHN L. DREW I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY): | ||||||||||
2 | CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS): | ||||||||||
(a) o | |||||||||||
(b) þ | |||||||||||
3 | SEC USE ONLY: | ||||||||||
4 | SOURCE OF FUNDS (SEE INSTRUCTIONS): | ||||||||||
AF, OO | |||||||||||
5 | CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e): | ||||||||||
o | |||||||||||
6 | CITIZENSHIP OR PLACE OF ORGANIZATION: | ||||||||||
UNITED STATES CITIZEN | |||||||||||
7 | SOLE VOTING POWER: | ||||||||||
NUMBER OF | -0- SHARES OF COMMON STOCK | ||||||||||
SHARES | 8 | SHARED VOTING POWER: | |||||||||
BENEFICIALLY | |||||||||||
OWNED BY | 2,429,000 SHARES OF COMMON STOCK (A) | ||||||||||
EACH | 9 | SOLE DISPOSITIVE POWER: | |||||||||
REPORTING | |||||||||||
PERSON | -0- SHARES OF COMMON STOCK | ||||||||||
WITH | 10 | SHARED DISPOSITIVE POWER: | |||||||||
2,429,000 SHARES OF COMMON STOCK (A) | |||||||||||
11 | AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON: | ||||||||||
2,429,000 SHARES OF COMMON STOCK (A) | |||||||||||
12 | CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS): | ||||||||||
o | |||||||||||
13 | PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11): | ||||||||||
5.93% | |||||||||||
14 | TYPE OF REPORTING PERSON (SEE INSTRUCTIONS): | ||||||||||
IN |
Table of Contents
1 | NAMES OF REPORTING PERSONS: JON Q. REYNOLDS, JR. I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY): | ||||||||||
2 | CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS): | ||||||||||
(a) o | |||||||||||
(b) þ | |||||||||||
3 | SEC USE ONLY: | ||||||||||
4 | SOURCE OF FUNDS (SEE INSTRUCTIONS): | ||||||||||
AF, OO | |||||||||||
5 | CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e): | ||||||||||
o | |||||||||||
6 | CITIZENSHIP OR PLACE OF ORGANIZATION: | ||||||||||
UNITED STATES CITIZEN | |||||||||||
7 | SOLE VOTING POWER: | ||||||||||
NUMBER OF | -0- SHARES OF COMMON STOCK | ||||||||||
SHARES | 8 | SHARED VOTING POWER: | |||||||||
BENEFICIALLY | |||||||||||
OWNED BY | 2,429,000 SHARES OF COMMON STOCK (A) | ||||||||||
EACH | 9 | SOLE DISPOSITIVE POWER: | |||||||||
REPORTING | |||||||||||
PERSON | -0- SHARES OF COMMON STOCK | ||||||||||
WITH | 10 | SHARED DISPOSITIVE POWER: | |||||||||
2,429,000 SHARES OF COMMON STOCK (A) | |||||||||||
11 | AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON: | ||||||||||
2,429,000 SHARES OF COMMON STOCK (A) | |||||||||||
12 | CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS): | ||||||||||
o | |||||||||||
13 | PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11): | ||||||||||
5.93% | |||||||||||
14 | TYPE OF REPORTING PERSON (SEE INSTRUCTIONS): | ||||||||||
IN |
Table of Contents
1 | NAMES OF REPORTING PERSONS: WILLIAM J.G. GRIFFITH IV I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY): | ||||||||||
2 | CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS): | ||||||||||
(a) o | |||||||||||
(b) þ | |||||||||||
3 | SEC USE ONLY: | ||||||||||
4 | SOURCE OF FUNDS (SEE INSTRUCTIONS): | ||||||||||
AF, OO | |||||||||||
5 | CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e): | ||||||||||
o | |||||||||||
6 | CITIZENSHIP OR PLACE OF ORGANIZATION: | ||||||||||
UNITED STATES CITIZEN | |||||||||||
7 | SOLE VOTING POWER: | ||||||||||
NUMBER OF | -0- SHARES OF COMMON STOCK | ||||||||||
SHARES | 8 | SHARED VOTING POWER: | |||||||||
BENEFICIALLY | |||||||||||
OWNED BY | 2,429,000 SHARES OF COMMON STOCK (A) | ||||||||||
EACH | 9 | SOLE DISPOSITIVE POWER: | |||||||||
REPORTING | |||||||||||
PERSON | -0- SHARES OF COMMON STOCK | ||||||||||
WITH | 10 | SHARED DISPOSITIVE POWER: | |||||||||
2,429,000 SHARES OF COMMON STOCK (A) | |||||||||||
11 | AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON: | ||||||||||
2,429,000 SHARES OF COMMON STOCK (A) | |||||||||||
12 | CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS): | ||||||||||
o | |||||||||||
13 | PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11): | ||||||||||
5.93% | |||||||||||
14 | TYPE OF REPORTING PERSON (SEE INSTRUCTIONS): | ||||||||||
IN |
Table of Contents
Percentage of Outstanding | ||||||||
Name of Investor | Number of Total Shares | Shares(*) | ||||||
TCV V | 2,384,062 | 5.82 | % | |||||
Member Fund | 44,938 | Less than 1 | % | |||||
Management V | 2,429,000 | (**) | 5.93 | % | ||||
Mr. Hoag | 2,429,000 | (**) | 5.93 | % | ||||
Mr. Kimball | 2,429,000 | (**) | 5.93 | % | ||||
Mr. Drew | 2,429,000 | (**) | 5.93 | % | ||||
Mr. Reynolds | 2,429,000 | (**) | 5.93 | % | ||||
Mr. Griffith | 2,429,000 | (**) | 5.93 | % |
Table of Contents
(*) | All percentages in this table are based on 40,945,305 shares of Common Stock of the Company outstanding as of December 17, 2010, as reported in the Company’s Form S-1 Registration Statement dated December 23, 2010, as filed by the Company with the Securities and Exchange Commission on December 23, 2010. | |
(**) | Certain Reporting Persons disclaim beneficial ownership as set forth below. |
Aggregate Number of | ||||||||||||
Name of Seller | Date of Sale | Shares Sold | Per Share Selling Price | |||||||||
TCV V | 1/27/2011 | 88,433 | $ | 20.0041 | (1) | |||||||
Member Fund | 1/27/2011 | 1,667 | $ | 20.0041 | (1) | |||||||
TCV V | 1/28/2011 | 785 | $ | 20.0000 | ||||||||
Member Fund | 1/28/2011 | 15 | $ | 20.0000 | ||||||||
TCV V | 1/31/2011 | 1,472 | $ | 20.0000 | ||||||||
Member Fund | 1/31/2011 | 28 | $ | 20.0000 | ||||||||
TCV V | 2/1/2011 | 5,104 | $ | 19.8367 | (2) | |||||||
Member Fund | 2/1/2011 | 96 | $ | 19.8367 | (2) | |||||||
TCV V | 2/2/2011 | 214,163 | $ | 19.7860 | (3) | |||||||
Member Fund | 2/2/2011 | 4,037 | $ | 19.7860 | (3) | |||||||
TCV V | 2/3/2011 | 90,298 | $ | 19.7126 | (4) | |||||||
Member Fund | 2/3/2011 | 1,702 | $ | 19.7126 | (4) | |||||||
TCV V | 2/4/2011 | 121,095 | $ | 20.0488 | (5) | |||||||
Member Fund | 2/4/2011 | 2,283 | $ | 20.0488 | (5) |
Table of Contents
(1) | This number represents the weighted average selling price per share for the shares sold. The shares were sold at prices ranging from $20.0000 to $20.0200 per share. | |
(2) | This number represents the weighted average selling price per share for the shares sold. The shares were sold at prices ranging from $19.7750 to $19.9150 per share. | |
(3) | This number represents the weighted average selling price per share for the shares sold. The shares were sold at prices ranging from $19.7000 to $19.9200 per share. | |
(4) | This number represents the weighted average selling price per share for the shares sold. The shares were sold at prices ranging from $19.7000 to $19.7900 per share. | |
(5) | This number represents the weighted average selling price per share for the shares sold. The shares were sold at prices ranging from $20.0000 to $20.1700 per share. |
Table of Contents
TCV V, L.P. | ||||
By: | /s/ Frederic D. Fenton | |||
Name: | Frederic D. Fenton | |||
Its: | Authorized Signatory | |||
TCV MEMBER FUND, L.P. | ||||
By: | /s/ Frederic D. Fenton | |||
Name: | Frederic D. Fenton | |||
Its: | Authorized Signatory | |||
TECHNOLOGY CROSSOVER MANAGEMENT V, L.L.C. | ||||
By: | /s/ Frederic D. Fenton | |||
Name: | Frederic D. Fenton | |||
Its: | Authorized Signatory | |||
JAY C. HOAG | ||||
By: | /s/ Frederic D. Fenton | |||
Name: | Frederic D. Fenton | |||
Its: | Authorized Signatory | |||
RICHARD H. KIMBALL | ||||
By: | /s/ Frederic D. Fenton | |||
Name: | Frederic D. Fenton | |||
Its: | Authorized Signatory | |||
JOHN L. DREW | ||||
By: | /s/ Frederic D. Fenton | |||
Name: | Frederic D. Fenton | |||
Its: | Authorized Signatory | |||
JON Q. REYNOLDS JR. | ||||
By: | /s/ Frederic D. Fenton | |||
Name: | Frederic D. Fenton | |||
Its: | Authorized Signatory |
Table of Contents
WILLIAM J. G. GRIFFITH IV | ||||
By: | /s/ Frederic D. Fenton | |||
Name: | Frederic D. Fenton | |||
Its: | Authorized Signatory |
Table of Contents