LinkedIn to sell shares for $32-$35 in upcoming IPO

Professional social networking site preps for initial offering, amends SEC filing

Professional social networking site LinkedIn is gearing up for its initial public offering, reporting that it plans to offer 7.84 million shares for $32 to $35 per share.

The Mountain View, Calif., company today released its plans in an amended filing to the U.S. Securities and Exchange Commission (SEC). LinkedIn is expected to begin trading on May 19.

All eyes will be on LinkedIn's IPO since it will be the first social network to go public. Despite being a second-tier player in the social networking world of Facebook and Twitter -- each of which has garnered worldwide attention and millions of users -- LinkedIn is the first one out of the IPO starting gate.

LinkedIn, an online network of more than 100 million professionals in about 200 countries, informed the SEC today that is will be selling 4.83 million Class A common shares while selling stockholders will be offering up 3.01 million Class A common stock. The official filing also noted that the company plans to raise a maximum of $315.6 million.

The $315.6 million expectation is a leap from the filing LinkedIn made in January, when it reported that it expected to raise $175 million, according to Forbes.

In its SEC filing, LinkedIn reported that from 2009 to 2010, its net revenue increased by 102 per cent and its net income increased by 487 per cent. The company also told the SEC that executives plan on using the net proceeds from the IPO for several purposes, including product development and to potentially buy other businesses and technologies.

Sharon Gaudin covers the Internet and Web 2.0, emerging technologies, and desktop and laptop chips for Computerworld. Follow Sharon on Twitter at @sgaudin or subscribe to Sharon's RSS feed. Her e-mail address is sgaudin@computerworld.com.

Read more about web 2.0 and web apps in Computerworld's Web 2.0 and Web Apps Topic Center.

Tags U.S. Securities and Exchange Commissione-commerceLinkedIntwitterWeb 2.0 and Web AppsinternetFacebook

Keep up with the latest tech news, reviews and previews by subscribing to the Good Gear Guide newsletter.

Sharon Gaudin

Computerworld (US)

Comments

Comments are now closed.

Most Popular Reviews

Follow Us

Best Deals on GoodGearGuide

Shopping.com

Latest News Articles

Resources

GGG Evaluation Team

Kathy Cassidy

STYLISTIC Q702

First impression on unpacking the Q702 test unit was the solid feel and clean, minimalist styling.

Anthony Grifoni

STYLISTIC Q572

For work use, Microsoft Word and Excel programs pre-installed on the device are adequate for preparing short documents.

Steph Mundell

LIFEBOOK UH574

The Fujitsu LifeBook UH574 allowed for great mobility without being obnoxiously heavy or clunky. Its twelve hours of battery life did not disappoint.

Andrew Mitsi

STYLISTIC Q702

The screen was particularly good. It is bright and visible from most angles, however heat is an issue, particularly around the Windows button on the front, and on the back where the battery housing is located.

Simon Harriott

STYLISTIC Q702

My first impression after unboxing the Q702 is that it is a nice looking unit. Styling is somewhat minimalist but very effective. The tablet part, once detached, has a nice weight, and no buttons or switches are located in awkward or intrusive positions.

Latest Jobs

Don’t have an account? Sign up here

Don't have an account? Sign up now

Forgot password?