Asia Bizz: LinkedIn, worlds first professional social network website is having plans to be open for the public in the year 2011. The company has officially selected three of its underwriters, sources have reported Reuters. The underwriting for LinkedIn will be done JP Morgan, Bank Of America and Morgan Stanley, they were finalized by the company in the month of November last year.
The company spokesperson stated that an IPO is just a basic tactic by the company, LinkedIn in looking way ahead of Facebook when speaking of initial public offerings. One of the sources state ‘Some of these companies want to go public because they want to beat Facebook and others out.’
Facebook on the other hand is not expected to file an IPO at least before 2012, but there are questions, whether LinkedIn is looking ahead to surpass Facebook in terms of IPO and other features. Some $500 million investment is heading Facebook’s way, and this will surely enlarge their capital power, so can LinkedIn pull off something similar to that.
Source: Reuters
