LinkedIn to go public in 2011, news report reveals

7 January 2011

LinkedIn, a social networking website used by business and banking professionals, is planning to file for a public listing during 2011, a news report has claimed.

According to Reuters, which cited unnamed people familiar with the matter as sources, JPMorgan, Bank of America and Morgan Stanley are to organise the initial public offering (IPO) with the Securities and Exchange Committee (SEC).

LinkedIn is thought to have made the decision to file for a public listing during the final quarter of 2010 and is expected to complete the process by the end of the first quarter of this year.

A spokesman for the website said: “An IPO is one of many tactics that we could choose to pursue. We are focused on building our business and doing what is in the best long-term interest of LinkedIn members and shareholders.”

News of the firm’s IPO plan arrives after Facebook received millions of dollars of investment from Goldman Sachs and Russian firm Digital Sky Technologies earlier this week.

The two firms invested a total of $500 million into the social networking website and is reportedly contemplating launching an IPO in 2012.

An enquiry by the SEC has been set up to investigate an investment vehicle created by the bank to assess whether it has been created in order to overcome disclosure rules for privately held firms.

By Jim Ottewill

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