If I had $3000 to drop, this would be a smart investment over the next few years! Professional networking website LinkedIn Corp. plans to sell shares to investors for $32 to $35 each in an initial public offering, one of the first for a major U.S. social networking site. The company said the offering could raise up to $274.4 million. LinkedIn estimates that its net proceeds, based on an IPO price of $33.50 per share, would be about $146.6 million after expenses.
LinkedIn’s debut could pave the way for other popular online services that connect people with common interests — Facebook, Groupon and Zynga, for example — to go public. LinkedIn, which focuses on job-related connections, has more than 100 million members. Facebook is much larger, with more than 600 million. Facebook has signaled that it’s likely to file its IPO plans by the end of April 2012.