LinkedIn prepares IPO

Business networking site LinkedIn plans to raise as much as $175m (£110m) in an initial public offering that could value the firm at almost $3bn.The highly-rated company saw its sales more than double to $161.4m in the first nine months of last year from $80.8m in 2009. Its profits for the same period hit $1.85m.Morgan Stanley, Bank of America and JPMorgan Chase will be among the bookrunners for the offering.The number of shares to be offered and the price range for the offering have not been finalised, according to a statement the company filed with the US Securities and Exchange Commission (SEC).A portion of the shares will be issued and sold by the company, while a separate portion will be sold by certain stockholders of LinkedIn, the filing said. LinkedIn, led by chief executive Jeff Weiner, has 90m users, compared with Facebook’s 500m. Share KCS-content Show Comments ▼ whatsapp Read This Next’A Quiet Place Part II’ Sets Pandemic Record in Debut WeekendFamily ProofHiking Gadgets: Amazon Deals Perfect For Your Next AdventureFamily ProofAmazon roars for MGM’s lion, paying $8.45 billion for studio behind JamesFamily ProofIndian Spiced Vegetable Nuggets: Recipes Worth CookingFamily ProofYoga for Beginners: 3 Different Types of Yoga You Should TryFamily ProofBack on the Rails for Summer New York to New Orleans, Savannah and MiamiFamily ProofChicken Bao: Delicious Recipes Worth CookingFamily ProofNew England Patriots’ Cam Newton says no extra motivation from Mac Jones’SportsnautCheese Crostini: Delicious Recipes Worth CookingFamily Proof LinkedIn prepares IPO whatsapp Thursday 27 January 2011 9:11 pm Tags: NULL