LinkedIn Files Papers For IPO, Could Be Valued At $3 Billion
LinkedIn has filed the required Securities and Exchange Commission papers necessary for the company to move forward with an initial public offering.
At this time it’s still unclear how many shares the company will offer or at what price those shares will be offered at.
In 2009 the business-centric social networking site generated $120 million in revenue, with $161 million coming in through the first nine months of 2010.Those first nine months in 2010 generated $10 million in profit for the company.
Interestingly, in their filing Facebook, Twitter, Google and Microsoft are named as competitors with LinkedIn noting:
“[Those company’s] could develop competing solutions or partner with third parties to offer such products.”
With 90 million users as of January 1st 2011 and one new user joining every second, it’s a safe bet that some interest will be generated during the company’s IPO. Current private trading for the company values LinkedIn at $3 billion.
At this time a date for the offering has not been disclosed.