LinkedIn Files For IPO
Professional social network LinkedIn has just submitted its S-1 filing with the SEC, indicating that it will file for a public offering. The maximum proposed total offering price is $175 million but this is just a placeholder amount.
In terms of revenue, in the nine months ended September 30, 2010, LinkedIn’s net revenue increased $80.6 million to $161 million for the same period. Net income for the same period came in at $10 million.
LinkedIn’s total net revenue in 2009 was $120 million, which LinkedIn obviously surpassed in 2010. The company took a $3.9 million loss in terms of net income, with 2010 as the first profitable year for the network.
Source: LinkedIn Files For IPO
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