REVIEW: LinkedIn Stock IPO Sees Its Price More Than Double

It seems that Facebook may not be the only hottest social network company around. Professional social network LinkedIn may also be considered as one in terms of investment. It recently conducted a initial Public Offering to open the company’s doors to public investors. Due to the demand for its shares, LinkedIn saw its share price more than doubled after the first trading day.

LinkedIn, a social network that caters to working professionals and job seekers, may be showing just how in demand social network companies may look to investors. During the IPO last Wednesday, LinkedIn was priced at $45 per share. It began trading on the New York Stock Exchange on Thursday under the ticker symbol LNKD.

At the opening of trading LinkedIn share prices rose to $83 and even to $90 soon afterward. Share prices reached a high of $122.70 per share in late morning trades and saw it close for the day at $94.25 per share. LinkedIn stood to raise more than $350 million in its IPO, making it one of the largest IPO’s among tech companies since Google, who did it last 2004. It currently puts the value of the company at around $9 billion.

This may be quite an opportunity for LinkedIn, that only was able to report profits a year ago and another one in 2006 since its inception last 2003. Other than that, LinkedIn was seen “in the red” in the prior years. The demand surge may also be a cause of concern for other investors since it may be seen as another tech bubble that may burst at any time. Another point of concern is that LinkedIn valued itself at just $2.32 per share.Whether the rise in share prices on its first trading day can be maintained over time still remains to be seen.

Source: CNN Money

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REVIEW: Eight Big Tech Companies Express Support for AT&T and T-Mobile Merger

 

A merger of two large mobile companies may sound a bit threatening to the industry. But in the case of AT&T’s proposed acquisition of T-Mobile, the atmosphere seems a bit more friendly.

In a one-page, one-paragraph letter sent to FCC chairman Julius Genachowski, companies like Microsoft, Facebook, and Yahoo have expressed their support to the acquisition. The three companies believe they would benefit from the deal as software and web content distributors. Also included in the letter are Qualcomm, RIM, Avaya, Brocade, and Oracle, who also gave their thumbs up as they see the takeover as an opportunity to sell more of their mobile and networking hardware.

The eight companies are one in saying that the merger would be a “requisite move for broadening mobile broadband availability in the US and for keeping the country competitive with the rest of the world.”

Source: New York Times, via Engadget

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