LinkedIn has private equity and venture capital backing from Sequoia Capital, Greylock Partners, Bessemer Venture Partners, Bain Capital Ventures, European Founders Fund, The Goldman Sachs Group (NYSE: GS), The McGraw-Hill Companies (NYS: MHP) and a unit of SAP AG (NYSE: SAP) called SAP Ventures.
The latest filing still shows Morgan Stanley, Bank of America Merrill Lynch, and J.P. Morgan as the book-runners; and the deal’s co-managers are still listed as Allen & Company and also as UBS.
We now have updated financial statements for 2010 in its amended filing. The company is the largest professional social network and it still claims more than 90 million members in more than 200 countries and territories. The company said that from 2009 to 2010, its net revenue increased $123.0 million, or 102%, net income increased $19.4 million, or 487%, and adjusted EBITDA increased $33.3 million, or 227%. The formal figures were $243.099 million in 2010 revenues with net income of $15.385 million and adjusted EBITDA of $47.959 million.
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Want to know a joke (and some truth) about the difference among the top social networks? MySpace is where you discuss what you want to do for a living when you grow up, LinkedIn is how you get your job, and Facebook is how you lose your job.
The full amended LinkedIn SEC Filing is here. We continue to see LinkedIn as a likely IPO in the second quarter of this year.
JON C. OGG
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