LinkedIn Hopes To Raise $350 million in it’s Initial IPO Offering
LinkedIn prices it’s initial share offering at $45 a share today as it looks to raise $350 million.
LinkedIn is a social network aimed at the business professional market and has built up a membership of over 100 million people in over 200 countries, more than half are outside of the US.
The initial public offering is for 7,840,000 shares which will raise $352,800,000 for the company and it’s stakeholders.
LinkedIn will begin trading on Thursday 19th May under the stock symbol ‘LNKD’ in New York and is one of the biggest tech IPO’s in recent years.
The company is part of a select group of tech companies that provide social based services such as Facebook, Twitter, Zynga and GroupOn. LinkedIn are the first to go public and many see it as a testbed for future ‘social’ offerings.
Other, less famous social tech startups that have gone public have struggled to keep their share price above the initial offering and some fear that the LinkedIn price is way above it’s value, citing that it could be another tech bubble.
It will be interesting to see how the market in the following months treat the LinkedIn share price, will they see it as overvalued for a company that made a modest profit or will they recognise the growth the company is rapidly achieving amongst its core membership of influential and monied business people.
Photo: LinkedIn
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