"LinkedIn Corporation announced today that it has filed a registration statement with the Securities and Exchange Commission for a proposed initial public offering of its Class A common stock," Linkedin's blog reported.
Linkedin has 90 million users and is a social networking site for professionals to share their resumes and other work related information.
"LinkedIn makes money from advertising, premium subscriptions and software service professional recruiters use to hire new employees.
LinkedIn's hiring solutions, which CEO Jeff Weiner said in November have really taken off for the company, appear to be its meal ticket, comprising 41 percent of revenue in the first nine months of 2010," eWeek reported.
Other hot social properties that have indicated they will go public in the near future include Groupon, Facebook and Twitter. Groupon recently turned down a buyout by Google for $6 billion and may raise $15 billion with an IPO, while people see Facebook going public by April 2012 when it has to report its finances under SEC regulations - that IPO could see a value of over $50 billion.
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