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SOCIAL MEDIA NEWS: LinkedIn valued at $8.5 billion after float

The market’s appetite for technology companies was further highlighted with LinkedIn’s impressive first day’s trading on the New York Stock Exchange.

 

It was valued at $8.5 billion (£5.3 billion), which was about $5 billion more than analysts predicted, with shares swapping hands for around $90 apiece at the start of the day.

 

The professional social networking site, which has around 100 million users, made a $15 million profit last financial year.

 

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