The company made an impressive debut on the US stock market today – doubling in value with hours of starting to trade.
The networking site raised $352.8m yesterday by selling eight percent of the company or 7.84m shares, for $45 each.
Early trading in those shares on the New York Stock Exchange this morning saw the price peak at $90 each at 10am.
That valuation dropped slightly by this afternoon, with shares trading at around $88 apiece.
Last year, the company doubled revenue to $243m with profits of $15.4m, the previous year the social media site posted losses of $4m.
In the first three months of 2011 revenue doubled to around $94m with profits increasing 14 per cent year-on-year to $2.1m.
LinkedIn’s flotation on the US stock market followed the site crossing the 100-million member mark in March.
The company revealed that nearly 18m people have joined some kind of professional group on LinkedIn, and 1.2m posts are made by members each week.