Linked In IPO “A Ways Off”, says CEO Dan Nye
Is Linked In going public? Probably not anytime soon, if you can take CEO Dan Nye’s comments at face value.
He might want to wait until the IPO market improves, although valuations on social networking sites might have peaked around the time Microsoft invested in Facebook.
Dan Nye left the door open to anything, in a rare interview with Liz Claman. But the site is clearly growing at a rapid clip, with 1.2 million members joining every month.
Nye said LinkedIn, which is often considered the corporate-equivalent of social networking sites Facebook or MySpace, now has 23 million members and is the “fastest growing social network” on the Internet.
“It’s all about productivity, not about photo sharing or music,” he said.
Unlike the more popular Facebook, which was recently valued at $15 billion but has yet to find a way to be profitable, Nye said that LinkedIn is profitable and growing revenue at a “considerable pace.” FBN
Yes, he is also claiming to be the fastest growing social network, something Facebook might dispute, and perhaps only Peter Thiel can confirm.
LinkedIn’s Dan Nye on Going Public
Fox Business
