LinkedIn Rumoured To Go Public In 2011,
Professional social networking site LinkedIn is planning to go public later this year, according to reports
LinkedIn – the social networking site for business professionals – is reportedly considering a stock offering within the first quarter of 2011.
The company is working on the documentation with three financial advisers, including Bank of America Merrill Lynch, JP Morgan Chase & Co. and Morgan Stanley, according to Reuters.
The value of LinkedIn’s shares in the Initial Public Offering (IPO) remains confidential. However, its shares in secondary markets like SharesPost are reportedly worth around $2.2 billion (£1.4 billion).
IPO is just one of many tactics
The report follows news of Facebook’s recent fundraising that has attracted $450 million (£290m) from Goldman Sachs and $50 million (£32m) from Russia’s Digital Sky Technologies. Speculations also surround the company’s implied gesture to go public in 2012.
However, The Wall Street Journal reports that LinkedIn has been considering filing for a public offering since last year, in a bid to accelerate its growth.
The company declined to comment on the rumours, merely stating “an IPO is one of many tactics that we could consider. Our main focus has been on creating long-term value for our members and our shareholders”.
Founded in 2003 by Reid Hoffman, LinkedIn has become a popular social networking site among business professionals. It claimed to have around 85 million users, with 30 million added over the last 12 months.
