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LinkedIn IPO May Be First in Wave for Social Media

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LinkedIn Corp.’s plan to raise as much as $175 million in an initial public offering may be the first in a wave of share sales for U.S. social-networking companies.

The largest professional-networking site plans an IPO after turning a profit in the first nine months of last year and more than tripling revenue between 2007 and 2009, it said in a filing yesterday with the U.S. Securities and Exchange Commission.