LinkedIn priced its initial public offering at $45 a share, the high end of its range. It began trading Thursday on New York Stock Exchange under the ticker symbol LNKD, and shares began trading $83 each and quickly rose above $90.
At $90 per share, LinkedIn is valued at about $8.5 billion. The company raised more than $350 million in its offering, making it one of the largest tech IPOs since Google in 2004.
Today, LinkedIn has become the largest supernova of personal wealth creation since the financial crisis began in 2008.
Reid Hoffman, who co-founded LinkedIn in 2003 is netting huge paper wealth today. He was LinkedIn’s founding CEO for the first four years before becoming Chairman and President, Products in February 2007. Currently he is Executive Chairman and LinkedIn has over 100 million members in over 200 countries. Apart from his professional titles, Mr. Hoffman will be called also a “Billionaire” from this day forwards.
