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Article

LinkedIn Files for IPO

It looks like it wants at least $175 million but that won’t be sorted out until the issue gets priced

LinkedIn, everybody's favorite professional network, filed to go public Thursday.

It looks like it wants at least $175 million but that won't be sorted out until the issue gets priced.

It's supposed to have about 90 million registered users and earned $1.85 million on revenues of $161.4 million the first nine months of last year, double 2009, its S-1 filing said.

It took in $103 million in venture capital.

Morgan Stanley, JP Morgan Chase and Merrill Lynch are taking it out.

Valuations are currently hovering around $3 billion.

LinkedIn also acquired CardMunch, whose now free iPhone app automatically transcribes business cards. The move will put it into competition with Salesforce and its Jigsaw acquisition.

More Stories By Maureen O'Gara

Maureen O'Gara the most read technology reporter for the past 20 years, is the Cloud Computing and Virtualization News Desk editor of SYS-CON Media. She is the publisher of famous "Billygrams" and the editor-in-chief of "Client/Server News" for more than a decade. One of the most respected technology reporters in the business, Maureen can be reached by email at maureen(at)sys-con.com or paperboy(at)g2news.com, and by phone at 516 759-7025. Twitter: @MaureenOGara

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