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May 18, 2011

Linkedin I.P.O. To Raise More Than $405 Million

  • 100 million members from 200 countries
  • 2,000,000,000 people searches in 2010 on LinkedIn
  • Executives from Fortune 500 are LinkedIn members
LinkedIn, which is set for an initial public offering on Thursday, could raise more than $405 million, up from an estimate of $315 million earlier this month, according to a regulatory filing on Tuesday. 

As investor demand for social media companies has surged, LinkedIn, whose networking site for professionals has more than 100 million members in over 200 counties, said it planned to sell more than 7.84 million shares at $42 to $45 apiece. The underwriters have the option to sell additional 1,176,000 shares, depending on the appetite for the offering. 

Nytimes reports that LinkedIn's Its current pricing plans represent an increase of more than 30 percent from previous expectations. In early May, the company said in a regulatory filing shares at $32 to $35.

LinkedIn is the latest Internet company rushing to go public, amid strong investor interest and improved market conditions. Social networking sites are among the most sought after offerings, and LinkedIn will be one of the first major players in the United States to go public this year. At the top end of the price range, the company is now valued at about $4.3 billion, up from more than $3 billion based on earlier pricing.