LinkedIn Corp. (LNKD) rings the bell, gains more than 30 percent

LinkedIn Corp. (NYSE: LNKD) shares more zoomed 34.6% to $101.93 as the professional-networking site made its market debut. Shares of the new issue totaled nearly 26.5 million.

LinkedIn Corporation, the world’s largest professional network with more than 100 million members worldwide, opened for trading on the New York Stock Exchange (NYSE) under the ticker symbol “LNKD” after its initial public offering in which it raised $352.8 million in gross proceeds. LinkedIn CEO Jeff Weiner, joined by members of the company’s management team, celebrated the company’s first day of trading on the NYSE by ringing The Opening Bell.

“Becoming a publicly traded company on the NYSE is another significant step toward LinkedIn’s goal of connecting the world’s professionals to make them more productive and successful.” Weiner noted afterwards.

LinkedIn is the world’s largest professional network on the Internet, whose member base currently includes executives from every Fortune 500 company. The company has a diversified business model with revenues coming from member subscriptions, advertising sales and hiring solutions. LinkedIn was founded in 2003 and is headquartered in Mountain View, California.

Tags: buzz stocks, LNKD, NYSE, technology, Technology Stocks

This entry was posted on Thursday, May 19th, 2011 at 3:26 pm by Glenn and is filed under Technology Stocks. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.