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Edition: U.S. Article Comments (0) Follow Reuters Facebook Twitter RSS YouTube Read Arnold Schwarzenegger fathered child outside marriage 10:20am EDT Strauss-Kahn in jail as IMF seeks new faces | 10:38am EDT Cannes film review: "Tree of Life" 10:56am EDT Historic Vicksburg, Mississippi faces flood siege | 16 May 2011 Generation gap shows in attitudes to Ireland 8:16am EDT Discussed 135 Son says bin Laden sea burial demeans family: report 96 Texas county official says ”stupid” feds sparked fire 79 Israel-Palestinian violence erupts on three borders Watched Fire ants form rafts to defy floods Tue, Apr 26 2011 Boot camp for rebels in Libya Sun, May 15 2011 Shuttle Endeavour blasts off Mon, May 16 2011 LinkedIn IPO price range boosted by 30 percent Tweet Share this BANGALORE/NEW YORK (Reuters) - Social networking company LinkedIn Corp raised the expected price range of its initial public offering by 30 percent on Tuesday, a sign that investors remain eager to bet on social networking companies. LinkedIn, which... Email Print Factbox Factbox: A history of global exchange merger activity Mon, May 16 2011 Related News Soros dumped most gold in Q1, Paulson stays put Mon, May 16 2011 Social network Viadeo shelves IPO plan Mon, May 16 2011 Glencore to close books early on $11 billion IPO Fri, May 13 2011 Glencore CEO says IPO demand, commodity outlook strong Thu, May 12 2011 Analysis & Opinion Ignore Geithner’s debt ceiling scare tactics Entrepreneur’s tweet sparks fight with angels Related Topics Technology Home » Deals » Global Deals Data 2011 Q1 » Small Business » Inflows Outflows » Media » LinkedIn CEO Jeff Weiner talks during an interview during the Reuters Technology Summit in San Francisco, California May 17, 2010. Credit: Reuters/Robert Galbraith BANGALORE/NEW YORK | Tue May 17, 2011 10:15am EDT BANGALORE/NEW YORK (Reuters) - Social networking company LinkedIn Corp raised the expected price range of its initial public offering by 30 percent on Tuesday, a sign that investors remain eager to bet on social networking companies. LinkedIn, which has been meeting with potential investors, now plans to sell shares at $42 to $45 each, up from a previous range of $32 to $35. The new range values the 9-year-old company at $4.11 billion. The stock market reception to LinkedIn will be an important gauge of investor appetite for social networking, including the Big Four of the social media space -- Facebook, Twitter, Groupon and Zynga -- which are widely expected to go public. LinkedIn's growth has been rapid: It doubled its revenue last year to $243.1 million and posted net income attributable to shareholders of $3.4 million. However, in the risk factors section of its prospectus, the company disclosed that it does not expect to be profitable in 2011 based on U.S. generally accepted accounting principals. "Our philosophy is to continue to invest for future growth, and as a result we do not expect to be profitable on a GAAP basis in 2011," the filing said. It is not uncommon for an unprofitable company to seek a public listing, but it could give investors pause to see a company bluntly predict swinging to a loss during its first year as a publicly traded stock. Companies like Facebook, Twitter, Groupon and Zynga have stoked investor interest for social media companies and command multibillion-dollar private market valuations. But there are signs that investor appetite could be waning. Renren, a company sometimes called the Facebook of China, went public in the United States earlier this month. Its shares soared 29 percent in their debut but have since dropped below the IPO price. French social networking site Viadeo, the second-biggest social networking site for professionals behind LinkedIn, said on Monday it would defer plans to go public. Of the 7.84 million shares LinkedIn is offering, 4.83 million will come from the company and the rest from stockholders. LinkedIn co-founder and ex-PayPal executive Reid Hoffman is among the stockholders selling shares in the IPO, but he will still have 21.7 percent of the voting power in the company after the offering. Other big stakeholders offering shares include Goldman Sachs, Bain Capital Venture Integral Investors LLC and McGraw-Hill Cos Inc. Underwriters on the offering are being led by Morgan Stanley, Bank of America and JPMorgan. The company's shares are expected to begin trading on the New York Stock Exchange on Thursday under the symbol "LNKD." (Reporting by Sweta Singh in Bangalore and Alina Selyukh and Clare Baldwin in New York; Editing by Jarshad Kakkrakandy, Ian Geoghegan and John Wallace) Technology Home Deals Global Deals Data 2011 Q1 Small Business Inflows Outflows Media Related Quotes and News Company Price Related News Tweet this Link this Share this Digg this Email Reprints We welcome comments that advance the story directly or with relevant tangential information. We try to block comments that use offensive language, all capital letters or appear to be spam, and we review comments frequently to ensure they meet our standards. If you see a comment that you believe is irrelevant or inappropriate, you can flag it to our editors by using the report abuse links. Views expressed in the comments do not represent those of Reuters. Comments (0) Be the first to comment on reuters.com. Add yours using the box above. 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Thomson Reuters journalists are subject to an Editorial Handbook which requires fair presentation and disclosure of relevant interests. NYSE and AMEX quotes delayed by at least 20 minutes. Nasdaq delayed by at least 15 minutes. For a complete list of exchanges and delays, please click here.

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