According to a press release about to post, LinkedIn will price its shares at $45 each in its IPO tomorrow.
The price, at the top of its range, will give the Silicon Valley business-networking company a $4.5 billion valuation.
That's a stunning number for LinkedIn and a sign that the once moribund market for Internet companies is back, with investors clamoring to be part of the Web game again.
It's also stunning since LinkedIn earned just over $15 million on revenue of $243 million last year.
But it does have 100 million business users and seems to be the spear tip of a number of promising Web companies that are expected to be coming to market, including Facebook, Groupon, and Zynga.
LinkedIn is set to begin trading tomorrow on the New York Stock Exchange under the LKND ticker. … Read more