LinkedIn sold 7.84 million shares for $45 each, for a total of $352.8 million yesterday (Wednesday).
The company’s shares will begin trading on the New York Stock Exchange today, under the symbol LNKD.
On Tuesday, the social network raised the expected price range of its initial public offering (IPO) by 30% to $42 to $45 per share, up from $32 to $35.
Last year, 56% of LinkedIn’s net revenue came from field sales, while 44% came from online sales. A month after it launched, in May 2003, the business network had 4,500 members. It now has 102 million members.
The investment bodes well for other social media sites that are expected to go public, including Facebook, Twitter, Groupon and Zynga.
Groupon is thought to be valued between $15 and $20 billion.
Facebook, which is expected to go public in April 2012 (according to Reuters), has recently been valued at $70 billion – up from $50 billion at the beginning of the year.