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

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

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