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May 19, 2011 08:16 pm GMT

LinkedIn CEO Jeff Weiner "~Very Comfortable' With IPO Price

Shortly after ringing the bell on the New York Stock Exchange, LinkedIn's CEO Jeff Weiner talked to Bloomberg Televisionabout the IPO and the company's future plans. You can watch the full video here. As we reported this morning, the company began trading at $83.00 per share, a 84 percent increase from initial pricing of $45 per share, giving LinkedIn a $7.8 billion market cap. Shares have climbed as high as $122 per share in mid-morning trading. While some are crying Bubble, Weiner told Bloomberg that he is 'very comfortable' with the IPO Price. He said: We spent a lot of time with the right kind of investors--folks who understand the story, the fundamentals, who are in it for the long haul. That's our focus. We're in it for the long haul in terms of realizing the potential and opportunity of this platform. In terms of today's initial trades, we'll leave that to the marketplace. I wouldn't read too much into any one day of trading. We're in this for the long-term. As we continue to focus on executing our business, the fundamentals will be there and the stock price will take care of itself.

Original Link: http://feedproxy.google.com/~r/Techcrunch/~3/--TEvsUJbss/

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