Linked In Makes Its Profile Public
Years ago when we uploaded our resumes, picked a suitable profile picture and started finding connections, none of us could ever have imagined that Linked In would be the largest professional-networking site.
What started out as internet start-up by a PayPal alum in Mountain View, California, Linked In is about connecting employers and want-to-be employees. Growing rapidly, with over 100 million members, and claiming a worth of around $3 billion, Linked In has filed with the U.S. Securities and Exchange Commission to have its shares listed publicly on the New York Stock Exchange under the symbol LNKD.
First announcing their desire to go public back in January, Linked In seems to be setting the trend for web-based companies using the Oracle Trader. Pandora has announced that it will choose NYSE when it decides to go public, as well. There are also talks of Facebook and Groupon going public sometime this year and it will be exciting to see if they choose NASDAQ over NYSE just as Linked In has done.
Scheduled to begin trading publicly on May 19, 2011, Linked In is said to be asking for $32-$35 per share and will share a little over 7 million shares.