LinkedIn IPO Value Jumps
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By David Berman
There was lots of chatter on Tuesday over the surging demand among investors to get in on the ground floor of LinkedIn Corp.’s (LNKD) initial public offering, after the professional networking site boosted the price range by an amazing 30 per cent. Now, the company has priced its shares at $42 to $45 (U.S.) – up $10 from an earlier range.
At the new price, LinkedIn is valued as high as $4.25-billion, which has some observers wondering if the price is a bit steep for a company that earned just $15.4-million last year. Indeed, the Wall Street Journal’s Deal Journal found that the price hike was the biggest pre-IPO bump since the dying dot-com days in 2000. Still, the 30 per cent increase looks relatively mild compared to some of the more outrageous examples seen back then. According to Dealogic, Palm Inc.’s IPO price jumped more thanComplete Story »