LinkedIn, the social network aimed squarely at professionals eager to connect with colleagues and score potential business opportunities, began trading on the New York Stock Exchange this morning, and things are looking extremely bright for the company.
TechCrunch yesterday reported that LinkedIn had priced its IPO (Initial Public Offering) at $45.00 per share. That per-share figure amounts to a $4.5 billion valuation. The company, which posted Q1 revenues of $93.9 million, was said to be aiming to raise as much as $406 million in the offering.
"Today marks an important milestone in LinkedIn’s history – we started trading at the New York Stock Exchange (NYSE) – following our recent IPO filing," Nick Besbeas, VP of Marketing at LinkedIn said in a blog post. "Our stock symbol is LNKD (as you may have guessed from this post) and we’ve announced our initial public offering of 7,840,000 shares of common stock at a price to the public of $45.00 per share."
"Today marks an important milestone in LinkedIn’s history – we started trading at the New York Stock Exchange (NYSE) – following our recent IPO filing," Nick Besbeas, VP of Marketing at LinkedIn said in a blog post. "Our stock symbol is LNKD (as you may have guessed from this post) and we’ve announced our initial public offering of 7,840,000 shares of common stock at a price to the public of $45.00 per share."
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