Shares of LinkedIn (NYSE:LNKD), a professional networking site, soared as high as $122 on its first day of trading on New York Stock Exchange.
LinkedIn shares opened trading on May 19 at $83, an 84 percent rise from its initial price of $45 and surged as high by 173 percent to $122.70. The stock closed Thursday's trading up $49.25 or 109 percent at $94.25.
Following are some of the fast facts about LinkedIn
LinkedIn Fast Facts
* The site officially launched on May 5, 2003.
* At the end of the first month in operation, LinkedIn had a total of 4,500 members in the network.
* The site, started out in the living room of co-founder Reid Hoffman in 2002, sees one million new members join its network every week. Hoffman holds 20 percent of LinkedIn shares, according to regulatory filings.
* In the IPO, Hoffman sold only less than 1 percent of his stake and earned $5.2 million. Currently, he has about 19 million shares left and they are worth about $2 billion.
* The company's current Chief Executive is Jeffrey Weiner, a former Yahoo executive, has over 16 years of experience as a consumer Web product executive. Under his leadership, LinkedIn has tripled its revenue, rapidly expanded its global platform and increased its membership base from 33 million to 100 million members around the world.
* Weiner sold about 5 percent of his stake and made $5.2 million in the IPO and his remaining stake, about 2.5 percent of voting power, has a value of about $230 million.
* LinkedIn operates the world's largest professional network on the Internet with more than 100 million members in over 200 countries and territories.
* More than half of LinkedIn members are currently located outside of the United States.
* There were nearly two billion people searches on LinkedIn in 2010.
* As of Jan. 2011, LinkedIn counts executives from all 2010 Fortune 500 companies as members; its hiring solutions were used by 73 of the Fortune 100 companies as of March 22, 2011.
* More than 2 million companies have LinkedIn Company Pages.
* LinkedIn makes most of its money through recruitment services and job postings, ads, marketing and subscriptions.
* In 2010, LinkedIn generated $243 million revenues and reported net profit of $3.4 million.
* As of March 31, LinkedIn had 1,288 employees. At the current valuation of $8.9 billion, the market value of each employee is about $7 million.