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LinkedIn Shares Double in NYSE Debut

TechCrunch yesterday reported that LinkedIn had priced its IPO (Initial Public Offering) at $45.00 per share. That per-share figure amounts to a $4.5 billion valuation. The company, which posted Q1 revenues of $93.9 million, was said to be aiming to raise as much as $406 million in the offering.

"Today marks an important milestone in LinkedIn’s history – we started trading at the New York Stock Exchange (NYSE) – following our recent IPO filing," Nick Besbeas, VP of Marketing at LinkedIn said in a blog post. "Our stock symbol is LNKD (as you may have guessed from this post) and we’ve announced our initial public offering of 7,840,000 shares of common stock at a price to the public of $45.00 per share."


However, it will be celebrations all around at LinkedIn, as shares soared during the company’s public trading debut. Yahoo! Finance’s interactive chart for LNKD shows shares debuted at $81 at 10 a.m. this morning and climbed steadily, reaching a peak of $120.75 shortly before noon. Afternoon trading saw things calm down a little bit and the company seemed to have leveled off at about the $105 mark by 2 p.m. Between 2:30 p.m. and 4 p.m., LinkedIn shares experienced a slight downward trend, finally closing at $93.10, still more than double the initial $45.00 per share.

  • Holy cr@p!
    Reply
  • bin1127
    I've heard of linkedin, but is it really a popular social tool?

    I don't think people should go crazy thinking this is another facebook.
    Reply
  • the_ub
    Our stock symbol is LNKD (as you may have guessed from this post)
    +
    and how would we know that? this was the first mention in the article of the nyse tag.
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  • jdmandel
    LinkedIn is Facebook-esque in that it's a single place to keep in touch with all of your business contacts. However it's not really a big social site from my experience.

    As @bin1127 mentioned, I also don't see why people are going crazy about it. It's just crazy IPO fever.
    Reply
  • 70+ times earnings? Fine for a new, growing company but this one is not going to monetise like Facebook or Google.
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  • JohnnyLucky
    I think there are going to be a lot of unhappy investors.
    Reply
  • jacobdrj
    For those of us who have/had been unemployed for a while, LinkedIn was/is an important tool moving forward with your career in terms of learning what is going on with the job market, and making all important connections.
    Job postings are free, but more regulated than Craig's list, and is therefore the preferred job site portal for many companies.
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  • bak0n
    bin1127I've heard of linkedin, but is it really a popular social tool?I don't think people should go crazy thinking this is another facebook.
    Linkedin is for social business networking. FB is for social networking.

    Think of linkedin as the FB with an actual goal of making ones life curcumstances better vs. well, FB.
    Reply
  • this is initial ipo craze, and though while the $45 ipo jump to $100+ blah blah blah sounds interesting it isnt, considering youre going to need to be a market maker to see anything NEAR that initial pricing. If you noticed the article stated it started at roughly $81.
    Reply
  • fir_ser
    LinkedIn needs to invest the raised money in a wise way in order to expand and increase its earnings. So I’ll wait and see what will happen to LinkedIn in a timeframe of 1–2 years.
    Reply