LinkedIn could beat Facebook to an IPO

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LinkedIn could beat Facebook to an IPO

Kathleen Hall

LinkedIn could be the first social network company to be floated on the stock market, according to reports.

The social networking site for professionals has been quietly preparing an initial public offering for as early as the first three months of this year, reported the Los Angeles Times.

It has enlisted the Bank of America Merrill Lynch, Morgan Stanley and JPMorgan Chase for advice.

LinkedIn connects 85 million professionals and was one of the first social media sites to claim profitability. It was founded in 2003 by former PayPal executive Reid Hoffman.

A spokesperson for LinkedIn said the company would not comment on the rumours.

The speculation comes as a new round of funding for Facebook valued the site at around $50bn this week.

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