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(Image from article: "LinkedIn Hikes IPO Price Range by 30%")

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LinkedIn IPO skyrockets, trades as high as $92.99 a share

LinkedIn shares skyrocketed more than 80% to trade at about $86 a share, and at a high of $92.99 a share, on Thursday as the social networking site launched its initial public offering.

Senh: Which makes Linkedin worth about $8B, with annual revenue of $243M. That's about 30 times annual revenue. Hmm... The company still hasn't turned a profit.

LinkedIn Hikes IPO Price Range by 30%

Professional networking site LinkedIn raised its price range for its IPO this week by 30%, valuing the company at $4 billion, a strong indication that demand is running high for the new stock.

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LinkedIn to sell shares for $32 to $35 each in IPO

Professional networking website LinkedIn Corp. plans to sell shares to investors for $32 to $35 each in an initial public offering, one of the first for a major U.S. social networking site.

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