LinkedIn to sell shares for $32 to $35 each in IPO

Professional networking website LinkedIn plans to sell shares to investors for $32 to $35 each in an initial public offering, one of the first for a major U.S. social networking site.

The company said Monday the offering could raise up to $274.4 million. LinkedIn estimates that its net proceeds, based on an IPO price of $33.50 a share, would be about $146.6 million after expenses.

LinkedIn's debut could pave the way for other popular online services that connect people with common interests — Facebook, Groupon and Zynga, for example — to go public.

LinkedIn, which focuses on job-related connections, has more than 100 million members. Facebook is much larger, with more than 600 million. Facebook has signaled that it's likely to file its IPO plans by the end of April 2012.

Read Full Article from USA Today

- Posted: 2011-05-09 10:11:21

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