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May 20, 2011 12:06 am GMT
After opening to $83 per share and a market cap of $7.8 million, LinkedIn closed at $93.86 per share, giving the company a valuation of $8.9 billion. Although the professional social network priced at $45 per share, trading started at $83 (up 84 percent) and reached as high as $122.70 and as low as $80. In total, LinkedIn raised $352.8 million in gross proceeds from the offering of 7,840,000 shares, with 94.5 million shares of stock outstanding. As CEO Jeff Weiner told Bloomberg TV this morning, he was happy with the IPO price range and cautions against reading into any one day of trading, as the company is in it for 'the long haul.'
Original Link: http://feedproxy.google.com/~r/Techcrunch/~3/8gZu9vVV3tU/
LinkedIn Closes At $94 Per Share, With $8.9 Billion Market Cap
After opening to $83 per share and a market cap of $7.8 million, LinkedIn closed at $93.86 per share, giving the company a valuation of $8.9 billion. Although the professional social network priced at $45 per share, trading started at $83 (up 84 percent) and reached as high as $122.70 and as low as $80. In total, LinkedIn raised $352.8 million in gross proceeds from the offering of 7,840,000 shares, with 94.5 million shares of stock outstanding. As CEO Jeff Weiner told Bloomberg TV this morning, he was happy with the IPO price range and cautions against reading into any one day of trading, as the company is in it for 'the long haul.'Original Link: http://feedproxy.google.com/~r/Techcrunch/~3/8gZu9vVV3tU/
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