Hot Damn, LinkedIn’s Got an IPO Price That Just Won’t Quit

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You're checking out my valuation, aren't you? Photo: David Paul Morris/Bloomberg via Getty Images

If we're really in a tech bubble, skeptics ask, where are those boffo billion-dollar IPOs? Well, ask LinkedIn CEO Jeff Weiner and ye shall receive. The latest SEC filings from the company reveal that its IPO share price is up from between $32 and $35 to an astounding $42 to $45 per share. The 30 percent increase in price values the company at $4.1 billion. Just last week, the company was valued at $3 billion. Weiner wouldn't increase the share price unless he thought Wall Street had an appetite for it. The uptick comes on the heels of a 110 percent revenue growth in the first quarter of 2011 up to $93.9 million (net income was up $2.08 million, from $1.81 million year-over-year).

The increase in sales was a result of a paid service that helps recruiters search for professionals and list jobs on the site. It remains to be seen whether investors will be convinced that LinkedIn can keep growing at this rate. But we have a micro-payment suggestion: how about a fifteen-cent PayPal charge every time you need someone's email address and you're not connected to them? That's about the only way Intel can see parting with our hard-earned blog cash for the service.

LinkedIn Ups Price Of IPO To $42 To $45 Per Share, Valuation Now Over $4 Billion [TechCrunch]
Investors Going Crazy About LinkedIn, IPO Price Jacked Up 30% To $4.1 Billion [BI]