LinkedIn sets price range for IPO, $32 to $35

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

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.

Related: LinkedIn files for IPO: 8 facts to know

How to use LinkedIn strategically

Topics: Legal, Banking

About

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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