LinkedIn seeks for $1B for the business widening

LinkedIn seeks for $1B for the business widening The social network LinkedIn, the second in top popular all over the world, announced about plans to distribute on a market a share package on $1B – the Company needs money for current tasks solutions – from financial indexes improvement to making investments in foreign business and products developments. “We cannot specify with definition all possible methods of money spending from distribution”, - it is said in the placement project.

IPO LinkedIn has been conducted in May, 2011, and since then shares of the Company became expensive five times. By November, 2011 LinkedIn has sold comparatively many shares – about 1,3 million, then the Company has conducted the second placement. It expected to attract $100M, but could place shares only on $88M. At the moment the Company possesses $260M cash or money equivalent.

In the second quarter earnings of LinkedIn increased in comparison with last year profit on 59% up to $63,7M. The main growth resource became key direction of the network activity - recruitment. In august LinkedIn announced that will decrease age limit for American participants of the network till 14 years old. LinkedIn plans to become attractive resource for teenagers, entering Universities.