Business social network LinkedIn plans to offer 7.84 million shares at $32 to $35 a share in its initial public offering of stock. That would value LinkedIn at about $3 billion and would result in net proceeds of approximately $146.6 million.
LinkedIn announced the IPO in January. It has more than 100 million users and attained profitability in 2010 on revenue of $161.4 million and net income of $10.1 million. Its revenue climbed to $93.9 million, up 110 percent from the same period in 2010, in the first quarter of 2011. Mashable points out that some investors think social media companies are overpriced.
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Apple tops Google in brand value
Apple Inc. has surpassed Google Inc. as the world’s most valuable brand, according to WPP Group Plc. Apple’s brand value soared 84 percent to $153.3 billion over the year, propelled by the quick success of the iPad, a new version of the iPhone and the iMac. Google’s brand fell 2 percent to $111.5 billion. It had been top brand for four years running.
Microsoft was fifth, Coca-Cola and AT&T seventh. Facebook soared 246 percent to become the No. 35 brand valued at $191.1 billion.
LivingSocial Families launches in 22 more markets
DC-based LivingSocial, the chief rival to Chicago’s Groupon in the battle of the digital local deal firms, has launched in 22 new markets. Putting people on the ground in each market is one of the reasons the group deal companies have raised such huge amounts of venture capital (nearly a billion for Groupon and half a billion for LivingSocial).
The new markets for LivingSocial Families are:
North and Northwest Suburbs of Chicago
Northeast Suburbs of Detroit
Durham/Chapel Hill, N.C.
East Valley, Ariz.
Fort Lauderdale, Fla.
Fort Worth, Texas
Grand Rapids, Mich.
Inland Empire, Calif.
Marin County, Calif.
Oakland/East Bay, Calif.
Piedmont Triad, N.C.
South Hampton Roads, Va.
Wilmington, Del./Newark, N.J.
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