LinkedIn IPO in the Works

While its bigger, more popular rival is looking for ways to stay private, LinkedIn, the social networking service for professionals, is preparing to become a public company. And the timing is all about Facebook, say sources involved in the deal: LinkedIn needs to go public before its behemoth competitor does or else it might face irrelevance. Facebook will likely stay private until 2012, but that could change pending an SEC review of its $500 million investment deal with Goldman Sachs. Several banks made their proposals to LinkedIn in November, and Morgan Stanley, Bank of America and JPMorgan are among its financial backers.