Social networking giant LinkedIn will go public this Thursday, May 19th.
According to the official word from the company, LinkedIn hopes to raise upwards of $274 million as the investment world will be closely watching the outcome of a major social media IPO – a rarity even today.
Shares of LinkedIn will trade on the New York Stock Exchange under the symbol LNKD.
LinkedIn is currently planning to price its offering of 7.8 million shares between $32 and $35 a share, which will give the Mountain View, Calif.-based company a valuation between $3 billion and $3.3 billion.
Scott Sweet of IPO Boutique tells MarketWatch that LinkedIn is “the first of what is likely the start of several true U.S. social networking firms to come public.”
“This [LinkedIn] will certainly act as a barometer and guide others that are contemplating doing the same… as to price points,” Sweet revealed over the weekend in a note to investors.
Sweet added that he’s gauging “extremely strong” interest among possible investors closely watching ahead of Thursday’s IPO.
Other social media titans anticipated to go public in the near future include Facebook, Groupon, and Zynga.