LinkedIn unveils follow-on offering to fuel international expansion

Summary:The professional social network is preparing to offload approximately $1 billion of its shares.

LinkedIn is getting back to business after Labor Day with the announcement of a new follow-on offering to boost its bottom line.

See also: Uber picks up former Google, Facebook execs to speed up company growth

The professional social network is preparing to offload approximately $1 billion in shares of its Class A common stock.

The lead bookrunners are J.P. Morgan Securities and Morgan Stanley. Goldman, Sachs & Co. along with Bank of America-Merrill Lynch are acting as joint bookrunning managers with Allen & Company LLC enlisted as co-manager.

LinkedIn is also promising to add another $150 million to the pot if the underwriters decide to purchase some of the Class A shares.

Headquartered in Mountain View, Calif., LinkedIn has published a broad overview in what it eventually wants to do with its savings, including expanding product development and field sales -- notably on an international level.

There are also hints of other projects on the horizon as LinkedIn acknowledged in Tuesday's announcement that it could use some of the returns on future acquisitions.

The company has been expanding into the digital publishing space much more furiously over the last several months, helped especially by the purchases of smaller, more niche businesses such as SlideShare and Pulse .

Topics: Enterprise 2.0, CXO, Social Enterprise, Tech Industry, Web development

About

Rachel King is a staff writer for CBS Interactive based in San Francisco, covering business and enterprise technology for ZDNet, CNET and SmartPlanet. She has previously worked for The Business Insider, FastCompany.com, CNN's San Francisco bureau and the U.S. Department of State. Rachel has also written for MainStreet.com, Irish Americ... Full Bio

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