LinkedIn IPO arriving before Facebook’s: Reports Reuters

Amidst reports of Facebook raising $500 million from Goldman Sachs and DST, at $50 billion valuation, taking the social networking giant closer to an IPO; Reuters has reported that LinkedIn is launching its IPO before Facebook, creating a potential competition for the high-flying social networking giant.

According Reuters, business social networking giant LinkedIn has plans to pursue an IPO, hoping to beat Facebook’s grand plans to go public and mint money. Though filing financial paperwork may take months, LinkedIn’s IPO will be launched way before Facebook’s, stealing the publicity away from the social networking giant.

Reuters also mentions that Morgan Stanley, BAC Merrill Lynch and JP Morgan will perform as underwriting panel for the LinkedIn IPO.

In a world where, novelty is a real virtue, this news is a real dampener for Facebook. --------

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