Mashable reports that LinkedIN is moving towards an IPO for their social networking site.
LinkedIn is headed for an IPO, making it one of the first social networks to go public. The company will have $100 million in revenue in 2008, and last week Steve Sordello, formerly CFO of TiVo, came on board in the same position.
The IPO, reported by Reuters today, won’t be unprecedented: Xing, the so-called “LinkedIn of Europe”, raised 35.7 million Euros in an IPO in December 2006. LinkedIn claims to have 12 million users, and the IPO could be “as early as next year”.
It will be interesting to see what they do. I've always viewed LinkedIN as an interesting tool that can bring value, but it was always a small value in my estimation. I don't really see them as a social networking tool - but rather an interactive online rolodex.
Is anyone actually using LinkedIN successfully besides recruiters?
