LinkedIn is planning to launch its Initial Public Offering (IPO) later this week. The business-related social networking site is one of a handful of Internet-related companies taking the big step this year, and there are several on its heels that have already filed necessary paperwork with the Security and Exchange Commission (SEC). LinkedIn will trade on the New York Stock Exchange as LNKD. According to the a MarketWatch IPO report, about 7.8 million shares could be released for somewhere between $32 and $35 per share on Thursday, May 19th. Why does it matter? Depending on its success, this could be seen as a precursor to the eventual IPO launch of popular social network Facebook. It could also be seen as a barometer of success for online networking sites.
A few fast facts about LinkedIn:
• More than 100 million LinkedIn users, with 40 million based in the US.
• Founded in 2003 and based out of Mountain View, California.
• LinkedIn reported revenue of $243 million in 2010.
• 12 million small business professionals and 1.3 million small business owners are connected to LinkedIn.
LinkedIn is a way for people to establish business relationships with other entrepreneurs through those they already know. This gives users a chance to create a profile of themselves, then allow or filter out connections with other business people on the networking site. It launched sponsored advertising in 2008, and last year added service and products listings to a company’s profile page.
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