Posted by on May 23, 2011.
NEW YORK (AP) LinkedIn’s stock more than doubled in its market debut 5/19/11 because of huge investor demand for the first major U.S. social networking company to go public.
The demand reflects investors’ belief that Internet services that connect people with common interests will be able to make more money as the Web’s audience steadily expands. LinkedIn’s valuation eventually may look modest compared to other Internet companies that are being touted as potentially going public in the next 18 months. The short list includes: online messaging service Twitter, Web game maker Zynga, coupon site Groupon and Facebook, the social network that boasts more than 500 million users.
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