The LinkedIn IPO, Ready to Go

I’m really plugged in to the goings-on of the Social IPO theme for this year.  I find it exciting and I’m somewhat nostalgic about it all having lived through the first internet IPO wave (and the hideous denouement that followed).

LinkedIn is a company that I had originally posited might get bought before they’d have a chance to actually go public.  For a business media company, grabbing this thing now is a no-brainer.  But LinkedIn filed its S-1 Registration docs with the SEC this week, ‘twould appear they mean to come out on their own.  The most comprehensive blogging coverage I’ve seen on it was from my friend Cardiff Garcia at FT Alphaville.

Net revenue was $161m in the first nine months of 2010, compared to $81m in 2009. But net income in those three quarters was just $10m.

Cardiff notes that although the Wild West venture stock exchanges have LinkedIn shares changing hands at a valuation approaching $3 billion, it may be awhile before anyone is willing to bid them up quite that high.  After all, the company admits in its filing that investing for future growth means no profitability in 2011 and even a decline in revenues.

As it will be the first of the social media deals out of the gate, however, expect plenty of attention as far as how it comes together and prices.

Oh yeah, and Goldman isn’t even one of the lead underwriters here, according to the filing.


LinkedIn Files (FT Alphaville)

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