LinkedIn Goes Public, Will Facebook Follow?
LinkedIn, the world’s Largest Professional Network, will be one of the first Social Media sites to open their company to the public. The much anticipated Initial Public Offering (IPO) is set for May 16th and expected to bring in as much as $274 million, way up from the original $175 million. LinkedIn is prepared to offer 7.84 million shares starting at $32, which some investors like Warren Buffet think is overpriced. The business social media site has more than 100 million users as of March 2011 compared to Facebook who has more than 500 million. The company will trade under symbol LNKD, so watch out for it as it should appear on the NYSE this month.
There is also talk of Facebook and Twitter following the same suit and going public sometime this year. It will be interesting to see how these financial developments change our sacred social media world.