Business-oriented LinkedIn to offer IPO

Monday, May 9, 2011 1:01 PM By dwi

SANTA MONICA, Calif., May 9 (UPI) -- LinkedIn Corp. plans to delude 7.84 meg shares in its initial open substance of ordinary stock, consort officials in Santa Monica, Calif., said.

A filing with the Securities and Exchange Commission indicated the business-oriented ethnic networking site will offer most 4.83 meg shares with the rest coming from selling shareholders, MarketWatch.com reported.

Analysts expect the substance to be priced in the arrange of $32 to $35 a share sometime next week.

LinkedIn generates revenue from corporate customers who use its hiring solutions and from users who subscribe to the company's premium services. Basic membership is free.

The consort reported 2010 revenue of $243 million, threefold that of the prior year.


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