After more than three months of deliberations, LinkedIn, a social network for 100 million business people, has picked New York Stock Exchange for its flotation.
The delay has allowed LinkedIn to continue growing, with an extra 10 million members joining and revenues increasing, according to its regulatory filing.
In the three months ended March 31, net revenue increased $49.2m, or 110% over the same quarter last year. Last year also saw a doubling of revenues versus 2009, with net revenue increasing by $123m to $243.1m.
Outside of management, venture capital firms Sequoia Capital, Greylock Partners and Bessemer Venture Partners own the largest proportion of LinkedIn with 18.7%, 15.6% and 5.1% respectively.
LinikedIn has raised more than $100m from investment bank Goldman Sachs, publisher McGraw-Hill, SAP Ventures, the corporate venturing unit of Germany-based software company SAP, and venture capital Bain Capital, Bessemer, Sequoia, Greylock and European Founders Fund.