LinkedIn files for IPO

LinkedIn is set to float on the New York Stock Exchange as investors’ enthusiasm for social networking sites grows.

LinkedIn

The professional networking site has filed registration documents to raise up to $175m (£109m) in an initial public offering.

LinkedIn says it has more than 90 million registered users, some of which pay for its premium service which can cost up to £63 a month. The company also makes revenue from recruitment solutions and through advertising.

Earlier this week, LinkedIn announced it is to enhance its advertising technology to offer marketers more ways to produce targeted ads based on users’ age, location, job title, location and seniority.

According to its Securities and Exchange Commission filing, LinkedIn reported net revenue of $161.4m (£100.93m) in the first nine months of 2010 and $1.85m (£1.16m) profit in the same period.

LinkedIn has raised almost $100m (£62.5m) in numerous venture capital rounds since its launch in 2002, with Goldman Sachs amongst its investors.

Earlier this month Goldman Sachs announced it was to raise $1.5bn for Facebook through private placement of shares for its top clients.

Although Goldman Sachs had to withdraw its offer from US clients for fear of breaching security laws, the fundraising plan is already said to be up to three times over-subscribed.

Group buying site Groupon, which recently snubbed a $6bn (£3.8bn) takeover offer from Google, is also widely speculated to go public later this year.

Latest from Marketing Week

Marketoonist on PowerPoint pitches

The Marketoonist

Tom Fishburne is founder of Marketoon Studios. Follow his work at marketoonist.com or on Twitter @tomfishburne See more of the Marketoonist here Tom Fishburne will be speaking at the Festival of Marketing, which is taking place on 4 and 5 October at Tobacco Dock. To find out more information, including how to book tickets, visit […]

PLEASE SIGN IN OR REGISTER. IT'S FREE, QUICK AND EASY!

Access Marketing Week’s wealth of insight, analysis and inspiration that will help you develop as a marketer and leader.

Register and receive the best content from the only title 100% dedicated to serving marketers' needs.

We’ll ask you just a few questions about what you do and where you work, so we can make Marketing Week more relevant to you.

Register now

THE BEST CONTENT

Our award winning editorial team and columnists will ask the biggest questions about the biggest issues on everything from strategy through to execution to help you navigate the fast moving modern marketing landscape.

THE BIGGEST ISSUES

From the opportunities and challenges of emerging technology to the need for greater effectiveness, from the challenge of measurement to building a marketing team fit for the future, we will be your guide.

PERSONAL AND PROFESSIONAL DEVELOPMENT

Information, inspiration and advice from the marketing world and beyond that will help you develop as a marketer and as a leader.

Dedicated to developing your skills and helping you achieve marketing excellence. Find guidance on leadership, professional development and the latest industry jobs.

Having problems?

Contact us on +44 (0)20 7292 3711 or email subscriptions@marketingweek.com

If you are looking for our Jobs site, please click here