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Posted by Graham Keen on Wed 11th May 2011

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Business social-networking site LinkedIn has valued itself at around $3bn for a planned flotation, according to an updated US Security and Exchange Commission filing.
The filing — updated on Monday — indicated that the company will be valued at around $3bn (£1.83bn) when it floats on the New York Stock Exchange (NYSE) later this month. LinkedIn announced its intention to make an initial public offering (IPO) in January.
LinkedIn expects to get a maximum of $35 per share, and to sell over 7.8 million shares.
The latest SEC filing revised the amount of cash that the company now expects to raise from the IPO to a maximum of $315.5m; up from $175m in its filing in January.
"In 2011, our philosophy is to continue to invest for long-term growth. We expect to continue to invest heavily in our product-development efforts to enable our members and customers to derive more value from our platform," the company said. "We expect to continue to make significant capital expenditures to upgrade our technology and network infrastructure to improve the ability of our website to handle expected increases in usage and to enable the release of new features and solutions."
During 2010 LinkedIn reported net revenue of $243.1m — an increase of 102 percent in comparison to 2009 — but generated just $15.4m of net income. Its current valuation is around 12 times its net revenue.
LinkedIn will be the first social network to publicly offer shares, despite previous rumours of social-network giants Twitter and Facebook gearing up for an IPO.
In March, Twitter co-founder Biz Stone said the company had no plans to raise cash over the next 12 months. In January, Facebook announced that it had raised $1.5bn from private investors, giving it a total valuation of $50bn. Since then analysts have valued Facebook at closer to $100bn.



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