The professional networking site plans to use the net proceeds from the sale for general corporate purposes including development and expansion, though the company says some may be used for acquisitions and investments.
LinkedIn has recently lowered its minimum user age, added University Pages, and given users the ability to apply for jobs through their mobile app. Prior to that, the network redesigned the homepage and profile page, added sponsored updates and improved search capabilities.
Though the company trailed analysts' estimates for the most recent quarter, its stock has more than quadrupled since its 2011 initial public offering.
Revenue in the period ended June 30 rose 59 percent to $363.7 million, LinkedIn said, topping the $354.3 million average analyst estimate. Membership jumped 36 percent from a year earlier.
LinkedIn’s biggest sales generator is its talent-solutions product aimed at recruiters. That business accounted for 56 percent of revenue in the same period, following a single-digit percentage price increase on recruiters after a long period of growing membership.
LinkedIn filed its registration with the Securities and Exchange Commission Tuesday, and preliminary prospectus will be available through J.P. Morgan Securities LLC.
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