LinkedIn the Facebook for people with a job debuted last night and has managed to do very nicely for those involved. The entire notion of social media intrigues me since it looks so much like the tech bubble circa 1998/99 with people putting extraordinary valuations on really quite nebulous businesses.
The performance of LinkedIn on opening drops it into the top 10 list of first day IPO gains this century.
Table courtesy of Renaissance Capital
Addendum – I have just found a list of the top 10 first day increases for US IPOs
1. Va Linux (12/09/99) 697.50%
2. Globe.com (11/13/98) 606%
3. Foundry Networks (9/28/99) 525%
4. Webmethods (2/11/00) 507.50%
5. Free Markets (12/10/99) 483.33%
6. Cobalt Networks (11/05/99) 482%
7. MarketWatch.com (1/15/99) 474%,
8. Akamai Technologies (10/29/99) 458%
9. Cacheflow (11/19/99) 426.56%
10. Sycamore Networks (10/22/99) 386%.
