After weeks of speculation, LinkedIn has confirmed what many suspected—it will go public later this year. The career-focused social networking site filed a registration statement with the SEC yesterday, setting the stage for the company to become the biggest social network yet to land on Wall Street, reports Mashable. With revenues of $164 million in the first nine months of 2010 and 90 million users, LinkedIn is one of the biggest social networks this side of Facebook, and financial observers are keenly watching its IPO for a sense of broader market demand.
Experts say 2011 could be a big year for social networking websites going public. "Facebook has definitely escalated people's interest in the sector and I think there's a lot of demand (for more Internet IPOs)," said one analyst. Friend Finder Networks, the company behind the smutty hookup site Adult Friend Finder, filed its intention to go public last week. However, with the company's subscription-heavy revenue model, $471 million in debt, and risque content, FFN is considered a more unusual case.
(More LinkedIn stories.)
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