Linkedin IPO values firm at $3.3bn
LinkedIn, the social networking platform for professionals, has been valued at $3.3bn ahead of its flotation in New York next week.
The figure is the latest colossal sum to be attached to a social media venture amidst growing investor clamour for the next big thing in technology stocks.
LinkedIn is expected to lead the way for a number of related enterprises, notably Groupon, Zynga and (the biggest of them all) Facebook, which has been valued as high as $70bn.
LinkedIn currently has around 100m members worldwide, a seventh of Facebook’s tally, but their professional nature makes them comparatively more valuable to advertisers than Facebook’s personal focus.
On May 19 the company will offer 7.8m shares each valued at between $32-$35, with the proceeds being allocated toward working capital, sales and marketing, administration and capital expenditure.