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LinkedIn Reportedly Planning IPO For 2011

Social networking platform for professionals LinkedIn is looking to go public this year with its first initial public offering (IPO), reports suggest.

Citing people familiar with the matter, The New York Times reports that the company is consulting banks over a planned IPO launch later this year.

The NYT report claims that the company has hired Morgan Stanley, Bank of America Merrill Lynch and JPMorgan Chase to help out with the IPO. The parties are currently preparing the documents required to file the IPO, the source suggests, with the final prospectus set to be complete by the end of this quarter.

A LinkedIn spokesperson told NYT: “An I.P.O. is one of many tactics that we could consider. Our main focus has been on creating long-term value for our members and our shareholders."

As LinkedIn is a private company, its financial details are not publicly disclosed. But the NYT source claims that shares in the company already trade on secondary markets, valuing it at around $2.2 billion.