LinkedIn shares are set to hit the public markets starting this Thursday. This is the first big social network to go public, and the company is looking to raise $274 million with the offering. Although shares were originally going to be priced $32-$35, LinkedIn bumped it up to $42-$45 today.
LinkedIn is a well-known social-networking company with more than 100 million registered members. Most of the company’s revenue comes from fees it charges for recruiters and businesses using the site to help fill job openings. The website also generates sales from online ads.
LinkedIn will offer 4.8 million shares and the company’s current stockholders will sell 3 million shares. After the IPO there will be 94.5 million common shares outstanding. The stock will be trading under the ticker symbol “LNKD” on the New York Stock Exchange.
This will be the first glimpse at how investors take to online social-networking services – perhaps leading the way for other companies like Facebook, Twitter, Groupon, and others.
What site do you want to see go public?