The leading social network for professionals, LinkedIn, released the pricing details of its eagerly-awaited IPO this morning. The company intends to issue 7.8 million shares (under the proposed ticker LNKD) at a range of $32 to $35. At the mid-point, the valuation would be $3.3 billion.
Yet it’s a good bet that the opening price will be 30% to 40% higher when the shares hit the market — which will probably be in the next week or so.
Founded in 2003, LinkedIn is a pioneer in Web 2.0. The company is a kind of Rolodex for the 21st century, allowing professionals to network over the Internet — without putting up with those goofy family photos and embarassing comments from ex-girlfriends that can abound on other social networking sites like Facebook and Twitter. LinkedIn is meant to be for professionals first, an imporant distinction that makes it unique. Read