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Major LinkedIn Investor Says Serious Social Network Was Undervalued

PayPal founder and major LinkedIn investor Peter Thiel thinks Wall Street undervalued LinkedIn when it went public.

Thiel said to the Financial Times, “Whenever a stock price goes up as much as it does with LinkedIn, you assume the IPO was mispriced and the bankers screwed up. There continues to be a certain antipathy by Wall Street banks toward Silicon Valley companies where they don’t quite believe it’s real.”

Thiel reckons the banks that took LinkedIn public underpriced the IPO by about $200 million although thinq_ suggests that Thiel should keep quiet and go count his small change.

"LinkedIn is probably the most over-valued IPO ever. The site is a haven for suckers who think they're joining some sort exclusive business club. In reality those that make the most noise on the site are the type of self-promotional tosspots who fill their CV with horse cobblers and make up grand titles for themselves - like 'president' or 'head of technology resource management'," says thinq_ editor Paul Hales.