LinkedIn Files for Public Stock Offering
Updated at 6:47 AM PST on Friday, Jan 28, 2011
LinkedIn, the social networking site for professionals and resume posters/seekers, notified regulators Thursday that it plans to go public this year, says the Mercury News.
The company, based in Mountain View, is valued at more than $2.5 billion on one private share exchange, is the first Silicon Valley company to make a major public stock offering this year.
It is believed by experts that a move like this could encourage other Valley companies and venture capitalists to do the same, which would be good for area's economy.
In documents filed with the Securities and Exchange Commission, Linked in valued its offering at $175 million, but experts believe it may actually be more.