LinkedIn IPO Values Company at $4.9bn
LinkedIn, the social networking site for professionals is going public today. The company announced yesterday that it will be offering 7.8 million shares at $45 per share.
LinkedIn itself is offering 4,827,804 shares, while the remaining 3,012,196 are being offered by stockholders.
With the stock at the current price, the Wall Street Journal noted that LinkedIn is valued at over $4 billion.
Only last week, the company was expected to begin offering its stock for between $32 and $35.
Despite Facebook and Twitter being more popular, LinkedIn will be the first social network to go public and anticipation has been high.
Towards the end of last year, it was reported that Facebook was still a few years away from its own IPO. Peter Thiel, a Facebook board member, reportedly said that the company was looking at making an IPO sometime after later 2012.
When Facebook do go public, interest from investors is likely to be unprecedented.
Trading in LinkedIn shares will begin when the New York Stock Exchange opens, and will be traded under the symbol LNKD.
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