LinkedIn sets $32 to $35 IPO price range

Summary:LinkedIn on Monday set more details for its upcoming initial public offering (IPO). The company is planning to offer 7.84 million shares at US$32 to US$35 each.

LinkedIn on Monday set more details for its upcoming initial public offering (IPO). The company is planning to offer 7.84 million shares at US$32 to US$35 each.

The company has more than 94.49 million shares outstanding, according to its latest filing with the Securities and Exchange Commission. LinkedIn co-founder and chairman Reid Hoffman will own 21.7 per cent of outstanding shares.

With a price range set, LinkedIn's IPO is nearing launch.

For the first quarter, LinkedIn reported a net income of US$2.08 million on revenue of US$93.9 million. In the same quarter a year ago, LinkedIn reported a net income of US$1.81 million on revenue of US$44.7 million.

For 2010, LinkedIn reported a net income of US$15.38 million on revenue of US$243.1 million.

Beyond the price terms, LinkedIn's filing and risk factors were similar to the January prospectus.

Via ZDNet US

Topics: Social Enterprise

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Larry Dignan is Editor in Chief of ZDNet and SmartPlanet as well as Editorial Director of ZDNet's sister site TechRepublic. He was most recently Executive Editor of News and Blogs at ZDNet. Prior to that he was executive news editor at eWeek and news editor at Baseline. He also served as the East Coast news editor and finance editor at CN... Full Bio

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