LinkedIn has exceeded all expectations with its initial public offering today, which has been deemed the biggest web IPO since Google's. Pretty impressive for a social network that isn't Facebook.
When the company announced its pricing for the IPO, it was $45 per share. At the time of this writing, shares are at $105.70.
While just yesterday, the company was reported to have been valued at $4 billion - a number some thought too high - the reports are now indicating a valuation of a whopping $9 billion. Again, pretty impressive for a social network that's not Facebook.
LinkedIn has posted some photos from the opening bell ceremony this morning on its Flickr account:
LinkedIn's Executive team at the NYSE Bell Ringing Ceremony on May 19, 2011. From L-R: Reid Hoffman, Jeff Weiner, Steve Sordello, and Erika Rottenberg.
LinkedIn CEO, Jeff Weiner, at the center. Reid Hoffman (to the left of Jeff), Steve Sordello (behind Jeff) and Erika Rottenberg (to Jeff's right) on the floor of NYSE - May 19, 2011.
LinkedIn CEO, Jeff Weiner, at the center. Reid Hoffman (to the left of Jeff) and Erika Rottenberg (to his right) on the floor of NYSE - May 19, 2011.
Jeff Weiner, CEO of LinkedIn, in front of the New York Stock Exchange (NYSE) the day LNKD started trading on May 19, 2011.
So the question is can LinkedIn live up to its valuation? It's got a lot of competition in the social space, from some pretty fierce competitors. Facebook and Twitter, for example, can offer businesses and individuals many of the same or similar functions, and in some cases on a wider scale. The IPO will no doubt help with LinkedIn's growth, but neither Facebook or Twitter have gone public yet either. Here, we looked at some different things LinkedIn has been doing lately.
What do you think?