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LinkedIn soared 90% above its IPO price

LinkedIn soared 90% above its IPO price

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Congrats to Reid Hoffman, LinkedIn CEO, who has just become Silicon Valley’s Newest Billionaire…

“Social-media companies, take note: LinkedIn Corp.’s swift rise on its first day of trading Thursday proves that U.S. investors are hungry for similar stories. The professional-networking site’s shares opened at $83 on the New York Stock Exchange, up 84% from its initial public offering price of $45. It was recently changing hands at $85.99 a share, up 91%, valuing the company at nearly $9 billion. LinkedIn’s IPO had priced at the high end of its expected $42 to $45 range, which was boosted by $10 earlier this week in the face of strong demand.” – read more from WSJ

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  • I think many investors are waiting for twitter, facebook, etc… to make it to the public market. In the meantime, Linkedin has been growing steadily over the last 7 years and I think it’s a safe bet. They have been able to incorporate many elements of other social media platforms without losing its essence.

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