LinkedIn has ended its first day as a publicly traded company with shares above $94 each, 108% higher than the $45 at which each share was initially priced.
Shares climbed all the way to $122.70 this morning before settling below the century mark. More than 30 million shares of the company changed hands on Thursday. At $94, LinkedIn is now valued at $8.9 billion, 36 times the $243 million in revenue the company generated in 2010.
For comparisons sake, Google traded at 5.5 times its 2010 revenue at the close of trading on Wednesday, while Salesforce.com traded at 10.4 times its revenue and recently public Demand Media traded at 4.4 times its revenue.
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