LinkedIn Could Beat Facebook to an IPO

It has today been revealed that LinkedIn is to be the first social network company to be floated on the stock market ahead of Facebook.

The Los Angeles Times reports that the networking site for professionals has been preparing an initial public offering for as early as the first three months of this year, enlisting the Bank of America Merrill Lynch, Morgan Stanley and JPMorgan Chase for advice.

The site, which currently connects 85 million professionals was founded in 2003 by former PayPal executive Reid Hoffman and was one of the first social media sites to hit profitability.

A spokesperson for LinkedIn said the company would not yet comment on the rumours.

This speculation comes as Facebook is valued at around $50bn and critics discuss the possibility of the site floating next year.

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