LinkedIn.com IPO Rises 109% On First Day Valued at $9.5 Billion
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LinkedIn Corp, the largest professional-networking website more than doubled its value in the first day of trading after its initial public offering. The stock price closed at $94.25 after initially being offered at $45 each share. This puts LinkedIn’s value at around $9.5 billion.
Such a powerful opening for a Internet stock its 109% rise was the best since China’s Qihoo 360 jumped 134% in March is likely to reawaken the investing public’s interest in the Internet’s latest buzzword: social networking.
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