LinkedIn IPO reveals sector’s potential

The flotation of LinkedIn last week on the New York Stock Exchange was the first opportunity for investors to finally begin making serious money from social networking.

21st May, 2011

The flotation of LinkedIn last week on the New York Stock Exchange was the first opportunity for investors to finally begin making serious money from social networking.

LinkedIn’s IPO was reminiscent of the dotcom era, with the company selling 7.84 million shares at $45 each, netting some $352.8 million (€249.7 million) for its founders and investors.

During its first day’s trading, the share rocketed upwards, reaching a peak of $122.70 before closing at $94.25.

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