Posted by Search Concepts on August 3rd, 2010 0
Posted in Media News |
With industry markets in a constant mercurial state and with the recession having just ended, investors are just now picking themselves up with regards to investing and bolstering the ailing global economy. What with the world economy still in the first steps towards recovery, there is still, however, a palpable feeling of wariness in the financial sphere.
Nonetheless, there are many companies that have performed robustly despite all these economic woes. One of them is LinkedIn. The social networking site continues to thrive — the most recent sign of the LinkedIn’s continuous growth is the increase in the company’s valuation. Today, LinkedIn is said to be valued for more than $2 billion dollars.
The sum may not be as big compared to LinkedIn’s competitors in the social media market but it still projects the excellent performance exhibited by the company over the past year. The indicator of this positive news is the fact that Tiger Global Management, a hedge fund, spent a hefty $20 million to purchase a 1% stake in LinkedIn.
Given that the hedge fund paid $21.50 per share of LinkedIn and that the social networking company has 105 million shares outstanding, the whole picture will give you a rough estimate of what the latter is worth —- $2.26 billon.
LinkedIn being valued at this staggering figure is just an indication of how the online industry is doing. LinkedIn hopes to continue its rise in the market and bring more investors into the company.
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on Tuesday, August 3rd, 2010 at 6:10 am and is filed under Media News.
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