Business networking site LinkedIn added a
cool $1 billion to its value Tuesday as it raised the pre-deal
price range for its scheduled initial public offering by $10 a
share to between $42 and $45.
The revised target price values the company at around $4.3 billion and stoked warnings among financial analysts of a tech stock bubble. The shares are due to begin trading on Thursday.
According to The Wall Street Journal, $10 increases in the price range are extremenly rare, with the last instance occurring in 2000 at the height of the dot-com bubble.
LinkedIn is the leading business networking company in the US, and makes money from premium services and recruitment tools. Its IPO comes ahead of an expected share offering from Facebook, and represents the first chance investors have to participate in the IPO of a major social networking company.
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