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.