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Shares double in value after first day of trade

LinkedIn fuels dot com gold rush

Shares in business-focused social networking site LinkedIn more than doubled their value following the largest Internet IPO since Google.

Initially priced at $45 a share, shares in the world’s most popular business social networking site closed at $94.25 on Wednesday and then surged again when the market opened on Thursday, reading a high of over $120.

The top three venture capital backers saw their combined stake in LinkedIn worth more than $5 billion, not bad given the firm was valued at just $15 million in 2003 according to Bloomberg.

"Today is exciting and fun," CEO boss Jeffrey Weiner told the Financial Times as his stake in the firm became worth more than $1.8 billion.

"Now we’ve got to be focused on our long-term goal of remaining independent and taking advantage of this huge opportunity ahead of us."

"We’re still in the early innings," he added. Pretty good innings we’d say.

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