Liz Gannes

Recent Posts by Liz Gannes

LinkedIn Shares Jump 100 Percent Out of the Gates

LinkedIn, the business networking site, leaped in morning trading after its public debut on the New York Stock Exchange today. After pricing at $45, shares opened at $83 and were trading above $90 this morning.

LinkedIn raised $352.8 million in the offering. It had revenue of $243 million in 2010 and $94 million in the first quarter of 2011, mostly from subscriptions. If early trading holds, LinkedIn would have a valuation of nearly $9 billion.

Update: The pop did hold through first-day trading, eliciting much bubble talk.

Image via LinkedIn CEO Jeff Weiner on Twitter.


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The problem with the Billionaire Savior phase of the newspaper collapse has always been that billionaires don’t tend to like the kind of authority-questioning journalism that upsets the status quo.

— Ryan Chittum, writing in the Columbia Journalism Review about the promise of Pierre Omidyar’s new media venture with Glenn Greenwald