Professional social network LinkedIn has registered with US regulators its application to have an initial public offering of stock.
The California-based startup filed documentation with the SEC claiming that it planned to raise finance to expand its operations.
“We believe we are transforming the way people work by connecting talent with opportunity at a massive scale ... Our goal is to provide a global platform capable of mapping every professional’s experience, skills and other relevant professional data to his or her professional graph, including connections with colleagues and business contacts.”
LinkedIn claims that the number of shares to be offered and the price range have not been determined yet. The company described itself in the filing as the world’s largest professional network on the internet. LinkedIn members cultivate and manage career or business networks in the online community.
According to the data submitted by LinkedIn in its filing with the SEC, the startup made a net profit of $10 million on net revenue of $161 million in the first nine months of 2010