LinkedIn will hold an IPO on Thursday

LinkedIn will become a public company on Thursday May 19th. The business social network hopes to get $ 274 million this week in what will be one of the first major social media IPOs.

LinkedIn will place its shares on the New York Stock Exchange under the ticker LNKD. As expected, the value of each share will be from $ 32 to $ 35, a total of 7.84 million shares will be placed. After the IPO, the company is likely to be valued at about $ 3 billion.

LinkedIn announced its intention to hold an IPO in January. At that time, the company was valued at $ 2.51 billion based on shares placed on the secondary market SharesPost.
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The eight-year-old company overcame the threshold of 100 million users in March and became profitable in 2010 with a net profit of 10.1 million dollars and a net income of 161.4 million dollars in the first nine months of 2010. In the first quarter, LinkedIn revenues reached $ 93.9 million, an increase of 110% over the same period last year. Net income increased to $ 2 million from $ 1.8 million in the first quarter of 2010.

This will be one of the first social media IPOs expected this year. Among the following: Facebook, Zynga, Groupon, Pandora, Kayak, Yelp, Rovio and Zillow. Renren, named Facebook of China, went public this month and raised $ 743.4 million.