LinkedIn has sent the tech world in a flurry since their initial public offering yesterday blew all expectations out of the water.
LinkedIn announced its pricing at $5 per share, but by the end of trading yesterday it had reached a high of $107 per share. Shares are currently hovering around $101 to $103.
Initial reporting valued the social network at around $4 billion. Some are now indicating that LinkedIn could be worth more than $9 billion dollars, an absolutely astounding figure.
So the tech world sounded off on Twitter as LinkedIn’s valuation continued to climb. Many talked about the infamous “tech bubble,” which others pointed to LinkedIn’s IPO success as a sign of future social networks’ success in public offerings. Others from inside the social media field simply congratulated the people at LinkedIn on their big day.
First, that bubble talk:
@dhh
DHHLinkedIn made $15 million last year. It’s now worth $8,000 million. That’s a P/E of 500+. How can anyone claim we’re not in a bubble?
23 hours ago via Tweetie for Mac · powered by @socialditto
@peteryared
Peter YaredNew post: LinkedIn IPO: You know it’s a bubble when Grandma can buy in http://bit.ly/kaXpbO 14 hours ago via web · powered by @socialditto
@rk
Ryan KingI think we’re in a “calling it a bubble” bubble. 21 hours ago via YoruFukurou · powered by @socialditto
The staffs of other social networks Twitter and Facebook also talked about the IPO:
@sandofsky
Ben SandofskyI bet LinkedIn employees are getting Invitations to Connect to estranged relatives. 17 hours ago via Twitter for Mac · powered by @socialditto
@frost
Frost Li#linkedInIPO shows how people believe in social network and what its impact will be! 18 hours ago via web · powered by @socialditto
@dougw
Doug WilliamsImpressive IPO for our friends and partners at LinkedIn. Congrats @skottr @lizreaveswalker @allenb et. al. 23 hours ago via Twitter for iPhone · powered by @socialditto
@brandee
Brandee BarkerYay LNKD! So good for the industry! 1 day ago via Twitter for iPhone · powered by @socialditto
@matthicks
matthicksCongrats, LinkedIn: $100 a share and rising. I remember joining 6 years ago when Friendster, Tribe and Orkut were… http://fb.me/znQYn3pV 22 hours ago via Facebook · powered by @socialditto
Here are some more reactions from the blogging and tech writing world:
@Lessien
LessienIf $AAPL traded at 45x (like $LNKD) its FY 2010 revenues, its market cap would be almost $3 trillion dollars. 22 hours ago via Twitter for Mac · powered by @socialditto
@SameerPatel
Sameer Patel#Linkedin stock price is not a function of it’s revenue. It’s a function of the markets 5+ yr pent up demand to get in on social networking. 22 hours ago via Echofon · powered by @socialditto
@stevecheney
Steve CheneyRT @albertwenger: LinkedIn is Netscape of this decade. IPO window blown wide open. 22 hours ago via Twitter for iPhone · powered by @socialditto
@danprimack
danprimackThere is a rumor floating around that shares of LinkedIn can be used as survival rafts for the upcoming apocalypse. Buy, buy, buy! 22 hours ago via web · powered by @socialditto
@pkedrosky
Paul KedroskyAnyone who natters today about how much $$ LinkedIn left on the table should be ignored for keeps. Cluelessness^3. 21 hours ago via Echofon · powered by @socialditto
WebProNews is an iEntry Publication