LinkedIn sets float price
Social networks for suits
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Facebook for workers website LinkedIn has set the price for which its shares will initially be sold.
The company will sell shares at between $32 and $35 each, which will raise about $271m. This is the first time that LinkedIn is offering shares to the public.
It is selling 7.84 million shares, according to MarketWatch. The company has 94.5 million shares outstanding – giving a total value of $3.3bn.
The site launched in 2003 claims 100 million members in 200 countries, and more than half its members are outside the US.
The flotation will be closely watched, as LinkedIn is seen as a bellwether for other "Web2.0" firms that are ultimately likely to float, such as FaceBook and Groupon. ®
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COMMENTS
I think LinkedIn is going downhill
I think LinkedIn is going downhill, too many people just connect to everybody and it send too much mail these days.
Just from where I work, there have been several people who send a linked in invitation after they are giving the "introduction tour" of the office. A link to/from them has less than zero value.
Grrr.
Is this why they've increased the number of messages from people I don't care about and want to add me to their network?
Could be.
I've also noticed that some people think that sharing the same employer is good enough reason to invite you. I know we're supposed to trust colleagues but when you have a couple of thousand of them and have only ever met half a dozen it seems crazy to get several dozen invites.
Maybe I'm too picky but I only invite or accept invites from people I personally know and have had a decent amount of interaction with. I don't see why being part of the same large multinational corporation should suddenly entitle people to my respect and recommendation. In fact management are a pretty good example of why it shouldn't :)
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