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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.

Our Comments

Linkedin is not twitter, where quantity is more important than quality. Linkedin is taking its time to grow and making sure that it doesn't, in the process, dilute the value of its customers. As it stands though, Facebook is worth 15 times more than Linkedin.

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Désiré has been musing and writing about technology during a career spanning four decades. He dabbled in website building and web hosting when DHTML and frames were en vogue and started writing about the impact of technology on society just before the start of the Y2K hysteria at the turn of the last millennium. Following an eight-year stint at where he discovered the joys of global tech-fests, Désiré now heads up TechRadar Pro. Previously he was a freelance technology journalist at Incisive Media, Breakthrough Publishing and Vnunet, and Business Magazine. He also launched and hosted the first Tech Radio Show on Radio Plus.