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LinkedIn Sets IPO Price at $3 Billion

LinkedIn is preparing to be one of the first high-profile web companies to go public as it set its IPO price to value the company at more than US$3 billion, reports Bloomberg News.

The largest professional network said it will use the proceeds to “fund existing operations and expand the business, which may include buying other companies or technologies”, reports Bloomberg.

LinkedIn’s net income last year was US$15.4 billion.

While other web companies like Twitter and Facebook have yet to file for an IPO, hot daily deals start-up Groupon is planning for an IPO that will value it at as much as US$25 billion, reports Bloomberg, citing people familiar with the matter.

[via Bloomberg]
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