LinkedIn IPO On the Way
Update: From the LinkedIn blog:
LinkedIn Corporation announced today that it has filed a registration statement with the Securities and Exchange Commission for a proposed initial public offering of its Class A common stock. The number of shares to be offered and the price range for the offering have not yet been determined. A portion of the shares will be issued and sold by LinkedIn, and a portion will be sold by certain stockholders of LinkedIn.
Original Article: Rumors of a LinkedIn IPO have been swirling since the beginning of the year. The rumors were that the company would file this year, but they were somewhat vague.
Reuters had reported, however, that three sources confirmed that LinkedIn had selected its financial underwriters. One of the sources had said, "Some of these companies want to go public because they want to beat Facebook and others out. If Facebook went public before Linkedin, do you think anyone would pay that much attention to Linkedin? You might want to surpass the beast."
Well, Kara Swisher at AllThingsD is reporting that the LinkedIn IPO is now imminent, and that the company could file regulatory documents as early as today.
"Sources said LinkedIn is ready to submit an S-1 filing to the Securities and Exchange Commission, its first step in the IPO process and that could happen after the markets close this afternoon," she writes, adding that the IPO is likely to be led by Morgan Stanley.
LinkedIn has 90 million users.