News and views from inside the media bubble’
LINKEDIN GOES PUBLIC AMIDST PRAISE AND CRITICISM
LinkedIn Corporation, the “world’s largest professional internet network,” announced it was going public with an initial public offering of more than 7 million shares at $45 a share in a press release on May 18. Lewis Howes, author of two LinkedIn business books and a LinkedIn training course, claims this move “paves the way for other social platforms to see their potential for their IPO success in the future…. It is a good sign that IPOs are being brought to the market again,” Howes says. “It means that companies offering shares believe there are growth opportunities in the marketplace.” Even though some are predicting great success for the company that boasts “100 million members in over 200 countries and territories” and “a diversified business model,” detractors are saying that this is the harbinger to the re-installment of the dot-com bubble — a time “when dozens of dubious internet companies surged following their IPOs, often attaining multi-billion-dollar market values, only to crash when they ran out of money or couldn’t meet Wall Street’s expectations,” says Andrew Bary, associate editor for Barron’s print magazine. I think about it this way: Does anybody actually use their LinkedIn account?