LinkedIn (LNKD: NYSE) and its investors are selling $352.8 million worth of stock in its IPO, marking the Facebook-for-work as the biggest U.S. Internet IPO since Google. According to data provider Capital IQ, the amount of money LinkedIn is raising makes it the fifth-biggest-ever U.S. IPO in the Internet software and services sector. Just for some context: Google’s 2004 IPO — which at the time seemed like a bit of bungle — ended up raising $1.67 billion. The offering valued Google at $23 billion, a dollar figure The Wall Street Journal pointed out was almost equal to the market value of General Motors.
Nearly seven years later, Google is a cash machine with a market value of $171 billion. And GM, fresh from its bankruptcy filing, is worth $47 billion.
Here is the top-10 list of U.S. Internet IPOs, according to Capital IQ:
1.) Google/Aug. 2004 — raised $1.67 billion
2.) Navteq Corp/Aug. 2004 — raised $880 million
3.) Savvis/Feb. 2000– $408 million
4.) Northpoint Communications/May 1999 — $360 million
5.) LinkedIn/May 2011 — $352.8 million
6.) Via Net.Works/Feb. 2000 — $315 million
7.) Spark Networks/Feb. 2006 — $259 million
8.) Limelight Networks/June 2007 — $240 million
9.) Equinix/Aug. 2000 — $240 million
10.) Akamai/Oct. 1999 — $234 million
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