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LinkedIn Climbs Past $100 Per Share On moment Day Of Trading

submitted May 20, 2011 by (@leenarao)
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LinkedIn Climbs Past $100 Per Share On moment Day Of TradingLinkedIn's inventory continues to perform well at the start of its moment day of trading. After closing on the New York inventory Exchange at $94 per share yesterday aftermidday (giving LinkedIn a $9 invoiceion market cap), the professional social network's first trade began at $98 per share this morning and has reached as high as high as $103.28. The company is now close to a $10 invoiceion market share.

For background, LinkedIn priced its shares at $45 on Wednesday evening but began trading at $83 per share yesterday morning, up 84 percent and giving the company a $7.8 invoiceion market cap. In complete, LinkedIn raised $352.8 million in gross proceeds from the offering of 7,840,000 shares, with 94.5 million shares of inventory outstanding.

numerous have cried Bubble considering how strongly LinkedIn has performed on the public markets considering the company's preceding valuations, revenue and profits. The company just reported that Q1 revenue in 2011 was up 110 percent to $93.9 million. Net income increased to just $2.08 million, from $1.81 million in Q1 2010. In 2010, the company netted $243 million in revenue, and $15.4 million in net income.

One shit is for certain. If LinkedIn can leadingtain anywhere near this valuation level, it is a good signal for other tech companies who are looking to IPO this year.

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