LinkedIn’s IPO is trending as the company begins trading on the New York Stock Exchange. The social networking site aimed at working professionals offered up nearly 8 million shares, the largest Internet IPO in the United States since Google went public.
The stock was initially offered at $45, and surged in early trading to over $110. Market skeptics wonder if LinkedIn will ever garner as much potential earning power as Facebook, Groupon, or Twitter, which are all privately held.
But the bulls are betting that LinkedIn will thrive as professionals increasingly use social media as their main form of networking.