LinkedIn To IPO?

According to The New York Times, LinkedIn, a social and professional networking site, announced plans of going public this year. LinkedIn chose Morgan Stanley, Bank of America Merrill Lynch and JP Morgan as its advisers in the offering process. LinkedIn anticipates completion of the IPO prospectus by the end of this quarter. Though the size of the offering has yet to be determined, the founder, Reid Hoffman, and other insiders are not expected to sell large holdings. The funds raised through LinkedIn's IPO will be used to finance growth, with an emphasis on international growth.