"At the top end of the new range, LinkedIn would raise $405.7 million if underwriters exercise an over-allotment option to buy 1.18 million additional shares," Bloomberg calculates. Of great
significance to the broader industry, LinkedIn will be the first major U.S. social-networking company to go public.
If all goes well, it may therefore "be the first in a wave of IPOs by other Internet companies," suggests Bloomberg. Groupon, for one, is reportedly considering a public offering, while Facebook has said 2012 will be its year. According to Bloomberg, about 62% of the shares in the offering are being sold by LinkedIn, which said it plans to use the proceeds to scale its business.