LinkedIn Mulling IPO, But Not For Foreseeable Future

LinkedIn co-founder Reid Hoffman has told Reuters that there is a huge possibility that LinkedIn might go public, but not in the near future.

The statement from Hoffman has confirmed the widespread belief that LinkedIn was in line for an IPO or Initial Public Offering.

LinkedIn is the most popular business oriented social networking website in the world that allows professionals to make their profile and also allows them to post links of their websites and blogs.

The last financing drive that LinkedIn made was in 2008 when the company raised $76 million. It was backed by McGraw Hill, Goldman Sachs and Bessemer Venture, which resulted in a company valuation of $1 billion. Hoffman also told Reuters that the company has not used the money as yet

The social networking giant has almost doubled the number of users in the past two years and currently boasts of over 53 million users in over 200 countries across the globe. In addition the company has recently started several projects in partnership with several major companies like RIM, Microsoft and Twitter.

The website, which was launched in May 2003 in under the leadership of Hoffman today has an enviable following amongst professionals who vouch by the business networking opportunity that the platform provides.