LinkedIn's play for college-bound teens mimics the worst of the college-admissions racket
LinkedIn is the name on everyone's lips today on Wall Street. The business-focused social networking site announced it will be offering shares at an initial price of $45, with LinkedIn valued at $4.3 billion. Some market watchers think the price is too high, but others believe LinkedIn could lead another round of big internet IPOs. (When the company initially announced its IPO, observers expected a valuation of $2 billion, and in early May LinkedIn was still predicted to be valued at $3 billion; in the past week, the IPO price has gone up $10.