LinkedIn on Monday set more details for its upcoming initial public offering. The company is planning to offer 7.84 million shares at $32 to $35 each.
The company have 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 percent of outstanding shares.
With a price range set, LinkedIn's IPO is nearing a launch.
For the first quarter, LinkedIn reported net income of $2.08 million on revenue of $93.9 million. In the same quarter a year ago, LinkedIn reported net income of $1.81 million on revenue of $44.7 million.
For 2010, LinkedIn reported net income of $15.38 million on revenue of $243.1 million.
Beyond the price terms, LinkedIn's filing and risk factors were similar to the January prospectus.