LinkedIn files for IPO

28 Jan 2011

Business social networking site LinkedIn has filed an S-1 form with the US Securities and Exchange Commission, announcing its plans to go public.

“We believe we are transforming the way people work by connecting talent with opportunity at massive scale,” LinkedIn said in its filing.

“Our goal is to provide a global platform capable of mapping every professional’s experience, skills and other relevant professional data to his or her professional graph, including connections with colleagues and business contacts.”

LinkedIn, through advertising and business services, drew a net revenue for 2010’s first nine months of US$161m, with a $10m profit. In the same period in 2009, it made half that revenue and a profit of $3.4m.

LinkedIn has more than 90m registered members to date, though in its filing the company said not all of those users are active and that a minority of members are responsible for the “substantial” majority of its 5.5bn page views.