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To: Glenn Petersen who wrote (115)11/15/2011 3:49:59 PM
From: stockman_scott
   of 221
 
Bain Capital Ventures is planning to sell all of the 3.71 million shares it holds in professional networking company LinkedIn Corp., according to a filing with the Securities & Exchange Commission. In total, the company’s early backers and its employees plan to sell a combined 6.7 million shares. LinkedIn aims to raise as much as $703 million via the secondary offering. Bloomberg previously reported the news of Bain’s exit.

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To: Brasco One who wrote (116)11/16/2011 2:41:55 AM
From: Glenn Petersen
   of 221
 
I have made money trading both sides. I like the company and think that they perform a useful function. I also think that they will be sucessful in the long term. I just feel that the current valuation is too high. I am short now, but with tight stops. I respect the low float.

LinkedIn Seeks To Bolster Shares

By SHAYNDI RAICE
Wall Street Journal
November 16, 2011

LinkedIn Corp., a poster child for this year's spate of Web-company initial public offerings, is taking steps to try to keep the price of its newly public shares from taking a nose dive next week.

The Mountain View, Calif., Internet company has been preparing for a flood of its shares to enter the market on Monday. That's the day the professional networking site will hit the end of its lock-up period, the 180-day term after an IPO during which insiders such as employees and early investors are forbidden from selling the company's stock. LinkedIn could see as many as 24 million shares released to the stock market when its lock-up expires, with the increased supply of shares potentially diluting its stock price.

So this week, LinkedIn said in a regulatory filing that it would have a $500 million secondary offering. In an effort to control the number of shares on the market—and who ends up getting their hands on them—the company said that while it is selling eight million additional shares through the offering, anyone who sells now has to agree to another 90-day lock-up period. The move is designed to temper the overall effect of the lock-up's expiry.

LinkedIn said in its filing on Monday that the stock sale—which is an expansion of an offering that it disclosed earlier this month—is intended to ensure "an orderly distribution of shares." With a secondary offering, which is marketed typically to institutional investors, a company can handpick big investors who are generally long-term and stable holders of stock.

But others said LinkedIn's move to try to control its share price would amount to naught. Ken Sena, an Evercore analyst, said he still has concerns about the 24 million new shares that will go onto the market. "What happens when you increase supply—then you're talking about a lower [stock] price," he said.

Like Groupon Inc., Zillow Inc. and other hot Web companies that have gone public this year, LinkedIn offered only a small percentage of its overall shares to investors when it went public in May. The strategy—known as a "small float" strategy—coupled outsized investor demand with a tiny supply of shares to keep a stock price high. So far, it's worked: LinkedIn's stock has been trading well above its IPO price of $45 a share over the past six months.

Yet LinkedIn has faced criticism for what some Wall Street analysts say is an "expensive" stock price as it remains unprofitable and is spending heavily to grow. Earlier this month, the company reported a loss for the third quarter, while its revenue more than doubled.

The new share offering of at least eight million shares would nearly double LinkedIn's float of nine million shares, the number of shares outstanding that are available for trading. There will be 97 million shares outstanding after the offering.

But under the terms of the offering, top LinkedIn executives—including chief executive Jeff Weiner and chief financial officer Steve Sordello—can sell 10% of their current holdings on the condition that they agree to yet another 90-day lock-up period, according to the company's regulatory filing.

LinkedIn chairman and founder Reid Hoffman also agreed to an additional 90-day lock-up period but isn't selling any of his current shares, according to the regulatory filing. Venture-capital firm Sequoia Capital, one of LinkedIn's early investors, agreed to similar terms.

Other early investors are taking the opportunity to cash out. Bain Capital, an early investor in the Web company, is selling all of its 3.7 million class B shares, or 4.3% of those outstanding, according to the regulatory filing. Other sellers include a venture-capital fund affiliated with SAP AG, which plans to offer 145,300 class B shares.
LinkedIn executives are currently on a road show to pitch the secondary offering to institutional investors, said people familiar with the matter.

The road show will last for one or two more days before the company decides on a final price, which will most likely be at a discount to the current stock price, said one of the people. LinkedIn's shares closed at $74.86, down 4.6%, or $3.63, in 4 p.m. composite trading on the New York Stock Exchange.

Lise Buyer, a Silicon Valley-based IPO consultant, said doing a secondary offering prior to a lock-up's expiration isn't uncommon. Knowledge of a large overhang in a stock can often serve to attract short sellers and keep enthusiasm from large institutions muted, she said.

"An organized effort to clear the overhang makes particular sense in the context of a stock with a small float," she said.

—Matt Jarzemsky contributed to this article. Write toShayndi Raice at shayndi.raice@wsj.com

online.wsj.com 

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To: Glenn Petersen who wrote (115)11/16/2011 7:56:21 PM
From: Glenn Petersen
   of 221
 
The LNKD follow-on offering has been priced at $71 per share:

LinkedIn Announces Pricing of Its Follow-On Offering

Press Release
Nove. 16, 2011, 6:49 p.m. EDT

MOUNTAIN VIEW, Calif., Nov 16, 2011 (GlobeNewswire via COMTEX) -- LinkedIn Corporation /quotes/zigman/5131883/quotes/nls/lnkd LNKD +0.69% today announced the pricing of 8,750,000 shares of its Class A common stock at $71.00 per share in a follow-on public offering. In addition, the underwriters have a 30-day option to purchase up to 1,312,500 additional shares of Class A common stock from LinkedIn to cover over-allotments, if any. LinkedIn will sell approximately 1,300,000 shares in the offering; the remaining shares will be sold by existing stockholders. As part of the underwriting procedures, all selling stockholders, as well as all officers and directors, have agreed to lock-up agreements for a period of 90 days following the offering.

The principal purposes of this offering are to raise capital for the company, facilitate an orderly distribution of shares and increase the company's public float. The proceeds of the primary portion of the offering will be used to provide additional working capital for LinkedIn, including further expansion of its product development and field sales organizations, for capital expenditures and potential strategic acquisitions or investments.

The bookrunning managers of the offering are Morgan Stanley & Co. LLC, BofA Merrill Lynch and J.P. Morgan Securities LLC. Allen & Company LLC and UBS Securities LLC are co-managers.

A registration statement relating to these securities was declared effective by the Securities and Exchange Commission on November 16, 2011. This offering is being made by the company and selling stockholders only by means of a written prospectus forming part of the effective registration statement. Copies of the final prospectus relating to the offering may be obtained from the offices of Morgan Stanley & Co. LLC, Attention: Prospectus Department, 180 Varick Street, 2nd Floor, New York, New York 10014, or by email at prospectus@morganstanley.com; BofA Merrill Lynch, 4 World Financial Center, New York, NY 10080, Attn: Prospectus Department, or email dg.prospectus_requests@baml.com; or J.P. Morgan Securities LLC, Attention: Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, New York 11717, or by telephone at (866) 803-9204.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state.

This news release was distributed by GlobeNewswire, www.globenewswire.com

SOURCE: LinkedIn

marketwatch.com 

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From: Brasco One11/28/2011 3:38:35 PM
   of 221
 
lnkd pig collapsing here.

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From: Glenn Petersen12/13/2011 10:48:26 AM
   of 221
 
Some of the larger funds have built positions in LNKD:

Prudential acquires a 15.9% position:

bizjournals.com 

T. Rowe Price acquires a 13.2% position:

blogs.wsj.com 

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From: Glenn Petersen1/7/2012 10:23:51 PM
   of 221
 
Sifting the Professional From the Personal

By RANDALL STROSS
New Yotk Times
January 7, 2012

AMONG online networking sites, LinkedIn stands out as the specialized one — it’s for professional connections only.

That distinction has given it staying power as Facebook’s predecessors have dropped away and as Facebook has grown to dwarf other sites. By keeping professional identity pristinely separate from the personal and the messy, LinkedIn, which is now publicly traded, has grown to more than 135 million members in 200 countries.

But challengers have arrived, in the form of apps. Rather than starting from scratch, independent software developers are trying to add a professional layer to Facebook — and are hoping that users will accept a less-than-complete separation of the professional and the personal.

“LinkedIn likes to say, ‘Facebook is for fun and LinkedIn is for professional purposes.’ What I like to argue is that’s no longer correct,” says Rick Marini, the chief executive of BranchOut, a start-up that offers a Facebook app for job-related networking.

“I get asked for introductions to my LinkedIn connections all the time.” Mr. Marini says. “The problem is, these are people I’ve met for five minutes at a conference and I don’t feel comfortable vouching for them. My Facebook friends are all my real friends.” (The gregarious Mr. Marini has an impressive number of “real friends”: 1,800 Facebook friends, he says.)

When users join BranchOut, the software pulls information from Facebook about their education, current employer and job title, leaving out everything else.

Excluding things like indiscreet photos, however, doesn’t necessarily make Facebook an excellent basis for a professional identity. BranchOut shows prospective employers a person’s network of Facebook friends. These aren’t likely to have been assembled the way they are at LinkedIn, with the idea that one’s connections will be reviewed by strangers checking on professional qualifications.

“There are some people I’d prefer not to interact with in my professional career, but I’m still good friends with,” says Tom Chevalier, global product manager at Monster Worldwide. Mr. Chevalier oversees Monster’s BeKnown, a Facebook app that competes directly with BranchOut.

BeKnown pulls more information from Facebook than BranchOut does, but it lists friends specifically chosen by the user, and only if those friends consent to be included. BeKnown’s design suggests that users must be careful about what parts of their Facebook identities should be imported into their professional profile.

Why not invest the same amount of time building a profile over at LinkedIn? Mr. Chevalier points to the fact that the average Facebook user visits the Web site more than 30 times a month, and he contends that convenience is important. “By having this proximity to Facebook,” he says, “we can help users think about their career more frequently.”

Applicants, of course, want to go where the most prospective employers are found; and employers, where the most candidates are. In both cases, this works in LinkedIn’s favor.

LinkedIn’s single largest business is selling access to information about its members. They are treated as “passive” job candidates: they aren’t necessarily seeking a job but have signaled their receptivity to new professional possibilities by joining LinkedIn and providing details about work experiences and skills.

David Hahn, vice president for product management at LinkedIn, says his company’s business clients “do not have to put up a ‘Help Wanted’ sign in the window and see who comes in.” He adds: “They can instead proactively go after the right person by looking over the professional experiences and skills of our 135 million-plus members.”

The company says 75 of the Fortune 100 companies are clients.

LinkedIn receives an average of 95 million unique monthly visitors, according to comScore data for November 2011. The Facebook apps are lagging far behind. BranchOut, founded in July 2010, is drawing about one million unique monthly visitors, occupying 298th place last week on AppData.com’s leader board for Facebook apps; BeKnown, introduced in July 2011, has only 170,000.

MR. MARINI concedes that LinkedIn has command of the professions, but he says that leaves ample opportunity for BranchOut to serve others. LinkedIn does a good job addressing the smaller part of the work force considered to be “white collar/managerial,” he says. The remainder, he adds, tends to be on Facebook — “blue-collar, hourly, temporary, cashiers, clerks, construction workers, returning military.”

Mr. Hahn of LinkedIn says his company “welcomes anyone who thinks in terms of a career instead of a job.” Using a broad definition of “professional” adopted by the International Labor Organization, LinkedIn says there are an estimated 640 million professionals out of a global work force of approximately 3.3 billion, leaving plenty of room for the site to grow.

Mr. Hahn notes that Facebook users clearly love games like CityVille and Texas HoldEm Poker, which draw millions of users. But the relatively minuscule use of the Facebook apps that venture into professional profiles or networking, he says, is “evidence that users clearly want to keep their professional lives separate.”

Randall Stross is an author based in Silicon Valley and a professor of business at San Jose State University. E-mail: stross@nytimes.com.

nytimes.com 

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To: stockman_scott who wrote (117)1/29/2012 1:56:10 PM
From: Glenn Petersen
1 Recommendation   of 221
 
The shares of LNKD have performed rather well, particularly when compared to those of GRPN and ZNGA. Not only is the company profitable (if marginally), it inhabits a market niche that is relatively free from competition. That could change:

<snip>

COMPETING WITH LINKEDIN

When it comes to social networks with gravitas, though, LinkedIn, not Google+, is the network Facebook needs to beat.

Last year, a Performics survey of 2,997 active social networkers found that the majority of them (59%) said it is important to have a LinkedIn account, more than any other social network.

Not surprisingly LinkedIn Chairman Reid Hoffman seems to agree. He told the audience at San Francisco’s Web 2.0 Summit last year he isn’t worried about Facebook as a competitive threat. This is how the Los Angeles Times described the encounter:

Asked whether LinkedIn would be held back by its demographic –- the average user is in his or her early to mid 40s –- Hoffman retorted: “You mean, like someone who could give you a job?”

Facebook and the Labor Department announced their collaboration last year via a dedicated Facebook page. The page offers job listings and information about available training programs and educational opportunities. It’s a good start but not nearly enough to compete with LinkedIn in this respect.

<snip>

Message 27913608

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To: stockman_scott who wrote (117)1/31/2012 4:25:28 PM
From: Glenn Petersen
1 Recommendation   of 221
 
Social Network Ads: LinkedIn Falls Behind Twitter; Facebook Biggest Of All
    By Ingrid Lunden
    @ingridlunden
    paidContent
    Jan 31, 2012 12:33 PM ET

    It remains to be seen whether all social networks can be profitable on advertising alone—and crucially what formats will work best alongside people’s communications with each other—but for now we are at least seeing some big growth in the space.

    In 2011, Twitter’s advertising revenues grew 233 percent, and LinkedIn’s sales were up 95 percent, and both are set to see more growth in the years ahead.

    Meanwhile, just days before an expected IPO, Facebook has solidified its lead in online display advertising not just in social networking, but over all online properties.

    According to figures out from eMarketer today, Twitter’s revenue from advertising was a mere $139.5 million in 2011, but that was actually up by 233 percent over 2010. The analysts believe that international growth will further push that number up to $259.9 million this year, a rise of 83 percent.

    Meanwhile, LinkedIn ( NYSE: LNKD) actually rounded off 2011 with more ad revenues than Twitter, with $154.6 million in sales. But it will see much more modest growth in the years ahead, with that figure only going up by 46 percent in 2012 to $226 million. At the moment, LinkedIn is proving to have the bigger international profile when it comes to advertising, with some 32 percent of its ad revenues expected to come from outside the U.S. in 2012, versus only 10 percent for Twitter. (Full tables with forecasts at the bottom of this post.)

    Today, Twitter has some 300 million users compared to 135 million for LinkedIn, and so some of Twitter’s gain on LinkedIn in ad revenues could be down to that simple fact. User numbers may, too, be the reason why Twitter will widen its lead in ad sales even further in the years ahead. By 2014, eMarketer predicts that Twitter will have annual ad revenues of $540 million compared to $405.6 million for LinkedIn.

    But even those 2014 figures are still less than 15 percent of what Facebook makes in advertising at the moment, mostly in the form of display ads.

    With revenues of $4.27 billion in 2011, $3.8 billion of that from advertising (eMarketer via WSJ) Facebook is the social network to beat. That’s true today but also in the future, as it only continues to enhance the services it offers to engage users and keep them on the site for longer.

    According to figures provided by comScore ( NSDQ: SCOR), in the U.S. Facebook has widened its lead in the display-advertising market in 2011. It now has 27.9 percent of that market, compared to 21 percent the year before. That puts Facebook significantly ahead of the next-closest competitor in display, Yahoo ( NSDQ: YHOO), which is at 11 percent. The full figures for 2011 and how they compare to 2010:



    In UK figures provided also by comScore, the leadership of Facebook is even stronger, with over 30 percent of the market for 2011 in terms of revenues.



    With Twitter and LinkedIn, it is too early to tell which social network’s ad formats prove to be the more engaging, and more attractive to media buyers.

    For now, it looks like LinkedIn is winning at least in the variety stakes, with ads to match particular user profiles and professions, as well as different areas for placement (Profile Page, Home Page, Inbox, Search Results Page and Groups) and formats. Twitter has, so far, concentrated on promoted tweets as the basis of their advertising. LinkedIn offers advertisers a self-serve platform for its services. Twitter launched its ad platform only in November 2011, and as eMarketer analyst Debra Aho Wiliamson puts it, the “verdict is still out” on whether it will gain traction.




    paidcontent.org 

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    To: stockman_scott who wrote (117)2/8/2012 8:32:19 AM
    From: Glenn Petersen
       of 221
     
    LNKD reports after the close on Thursday. A preview:

    LinkedIn's 4Q to provide more networking insights

    Investors look to LinkedIn's 4Q results to keep good vibes flowing for online networking

    Associated Press
    February 8, 2012

    SAN FRANCISCO (AP) -- LinkedIn Corp.'s fourth-quarter earnings should provide some insights into how much employers have been relying on the online professional networking service to fill jobs as the pace of hiring has been accelerating in recent months.

    WHAT TO WATCH FOR: The results, due out after the stock market closes Thursday, come at a time of escalating investor excitement about Internet services that bring together people with common interests. Facebook Inc., the owner of the largest social network, triggered the latest outbreak of giddiness last week when it revealed details of its rapid earnings and revenue growth in documents filed for an initial public offering of stock.

    Now, it falls upon LinkedIn to keep the good vibes flowing. The economy seemed to be working in LinkedIn's favor during the final three months of the year.

    Government labor statistics already have showed companies have been expanding their payrolls, a trend that bodes well for LinkedIn because its website has emerged as a digital rolodex that headhunters peruse to find prospective job candidates.

    LinkedIn, which is based in Mountain View, Calif., gets more than two-thirds of its revenue from fees it charges companies, recruiting services and other people who want broader access to the profiles and other data on the company's website. The rest comes from advertising.

    The improving economy, coupled with the publicity that LinkedIn has attracted since it completed its own IPO last May, may be spurring more people to post their resumes on the professional networking service.

    LinkedIn ended September with 131 million members. Management didn't predict how many more would join LinkedIn during the fourth quarter. Susquehanna Financial Group analyst Herman Leung expects LinkedIn to report it ended the year with about 147 million members.

    WHY IT MATTERS: The company's performance will likely sway investors' opinions about young Internet companies trying to prove they have built solid business foundations. LinkedIn has passed the test so far by delivering steady revenue and member growth. It also has been making money with the exception of last year's third quarter when it spent more on new equipment and employees. The performance has kept LinkedIn's stock well above its IPO price of $45. The shares closed Tuesday at $77.77.

    WHAT'S EXPECTED: Analysts polled by FactSet expect LinkedIn to earn 6 cents per share, excluding certain items unrelated to the company's ongoing operations. Revenue is projected to be nearly $160 million.

    LAST YEAR'S QUARTER: LinkedIn earned $1.6 million, or 3 cents per share, on revenue of $81.7 million at the same time in 2010.

    finance.yahoo.com 

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    From: Glenn Petersen2/9/2012 4:17:53 PM
    1 Recommendation   of 221
     
    Good numbers for LNKD.

    The press release:

    finance.yahoo.com 

    LinkedIn Beats The Street, Q4 Revenue Up 105 Percent To $167.7M

    Leena Rao
    TechCrunch
    February 9, 2012

    Professional social network LinkedIn just reported stronger than expected fourth quarter 2011 earnings today. Earnings came in at $0.12 per share. Revenue for the fourth quarter was $167.7 million, an increase of 105% compared to $81.7 million for the fourth quarter of 2010. Net income for the fourth quarter was $6.9 million, compared to net income of $5.3 million for the fourth quarter of 2010. Analysts expected the company to earn $0.07 per share on revenues of $159.72 million.

    “Q4 once again exceeded our expectations for member engagement and business growth. It was a fitting end to a memorable year in which we reinforced our position as the pre-eminent professional network on the web,” said Jeff Weiner, CEO of LinkedIn. “We believe continued focus on our members and technology infrastructure positions us well for accelerated product innovation in 2012.”

    LinkedIn is past the excitement of the public offering and now coming into its own as a public company. As Weiner recently told TechCrunch, “The event itself was memorable, but for us it was really just a stepping stone.” The fourth quarter was relatively quiet with regard to new products compared to past quarters. The network debuted a new version of business card organizer CardMuch (which they acquired in early 2011), and updated Groups with new functionality.

    LinkedIn is now adding two new members every second, and has 150 million members in over 200 countries and territories.

    Of course, that doesn’t mean that LinkedIn is slowing down. We hear there’s much more in store for the company for 2012, especially in mobile. It will also be interesting to see how acquisitive LinkedIn is in the coming year. The company just picked up contact manager Rapportive for $15 million.

    techcrunch.com 

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