LinkedIn has sent the tech world in a flurry since their initial public offering yesterday blew all expectations out of the water.
LinkedIn announced its pricing at $5 per share, but by the end of trading yesterday it had reached a high of $107 per share. Shares are currently hovering around $101 to $103.
Initial reporting valued the social network at around $4 billion. Some are now indicating that LinkedIn could be worth more than $9 billion dollars, an absolutely astounding figure.
So the tech world sounded off on Twitter as LinkedIn's valuation continued to climb. Many talked about the infamous "tech bubble," which others pointed to LinkedIn's IPO success as a sign of future social networks' success in public offerings. Others from inside the social media field simply congratulated the people at LinkedIn on their big day.
First, that bubble talk:
LinkedIn made $15 million last year. It's now worth $8,000 million. That's a P/E of 500+. How can anyone claim we're not in a bubble?
I think we're in a "calling it a bubble" bubble.
The staffs of other social networks Twitter and Facebook also talked about the IPO:
I bet LinkedIn employees are getting Invitations to Connect to estranged relatives.
#linkedInIPO shows how people believe in social network and what its impact will be!
Impressive IPO for our friends and partners at LinkedIn. Congrats @skottr @lizreaveswalker @allenb et. al.
Yay LNKD! So good for the industry!
Here are some more reactions from the blogging and tech writing world:
If $AAPL traded at 45x (like $LNKD) its FY 2010 revenues, its market cap would be almost $3 trillion dollars.
#Linkedin stock price is not a function of it's revenue. It's a function of the markets 5+ yr pent up demand to get in on social networking.
RT @albertwenger: LinkedIn is Netscape of this decade. IPO window blown wide open.
There is a rumor floating around that shares of LinkedIn can be used as survival rafts for the upcoming apocalypse. Buy, buy, buy!
Anyone who natters today about how much $$ LinkedIn left on the table should be ignored for keeps. Cluelessness^3.