LinkedIn Closes At $94 Per Share, With $8.9 Billion Market Cap

After opening to $83 per share and a market cap of $7.8 million, LinkedIn closed at $93.86 per share, giving the company a valuation of $8.9 billion. Although the professional social network priced at $45 per share, trading started at $83 (up 84 percent) and reached as high as $122.70 and as low as $80.

In total, LinkedIn raised $352.8 million in gross proceeds from the offering of 7,840,000 shares, with 94.5 million shares of stock outstanding. As CEO Jeff Weiner told Bloomberg TV this morning, he was happy with the IPO price range and cautions against reading into any one day of trading, as the company is in it for ‘the long haul.’

Still, it’s hard not to note just how strong this IPO is compared to others that debuted this year. As we’ve written in the past, Chinese social networking company RenRen went public at $14 per share, but trading has dropped below this price.

Related Posts:

LinkedIn CEO Jeff Weiner ‘Very Comfortable’ With IPO Price Range

LinkedIn IPO Shares Pop 84 Percent On First Trade, Opens With $7.8B Market Cap
Attn Entrepreneurs: Mark Zuckerberg Isn’t the Role Model. Reid Hoffman Is.
Photo Credit/Flickr/LinkedIn