Technology

The business and culture of our digital lives,
from the L.A. Times

« Previous Post | Technology Home | Next Post »

LinkedIn could file for an IPO as soon as Thursday

January 27, 2011 | 11:03 am

Professional networking site LinkedIn could file with the U.S. Securities and Exchange Commission for an initial public offering as early as Thursday.

LinkedIn_WebLogo_LowResExample2 The Mountain View, Calif., company hired Morgan Stanley, Bank of America and JPMorgan Chase to lead the offering.

LinkedIn spokesman Hani Durzy declined to comment.

Investors are anticipating the offering from LinkedIn, which has an implied value of $2.5 billion on private trading exchange SharesPost. It will be the first of the prominent social networking companies in Silicon Valley to dip its toes in public waters.

A $500-million investment in Facebook from Goldman Sachs and Russia's Digital Sky Technologies valued Facebook at $50 billion, the Palo Alto, Calif., social networking company said last week. Facebook is a giant in social networking with more than 600 million users.

LinkedIn, which helps people search for jobs, recruit employees and find experts, has grown to 90 million users in more than 200 countries. It has more than 1,000 employees.

LinkedIn Chief Executive Jeff Weiner ducked the question whether his company was planning to go public in a November interview. Weiner, a former Yahoo Inc. executive, joined LinkedIn in December 2008 and became CEO in June 2009.

"You don't necessarily have to go public to get to the next level," he said at the time.

RELATED:

LinkedIn preparing for an IPO 

Facebook may be planning an IPO in 2012

Business card? He has your profile

-- Jessica Guynn

Comments 

Advertisement










Video