LinkedIn Files For IPO

Mountain View-based business social networking site LinkedIn has filed for an IPO, saying Thursday afternoon that it is looking to raise up to $175M on the New York Stock Exchange. The firm's IPO is being underwritten by Morgan Stanley, BofA Merrill Lynch, J.P. Morgan, Allen & Company, and UBS Investment Bank. LinkedIn is backed by Sequoia Capital, Grelock Partners, and Bessemer Venture Partners. The firm reported it had net income of $10.0M on revenues of $161.4M for the nine months ended September 30, 2010.