Status Updates: LinkedIn & Facebook raise prospects of Silicon Valley boom

7th January 2011

The LinkedIn announcement is reported here on Ft.com  

Meanwhile Facebook expects it will have to start disclosing detailed financial information as if it was listed from April next year, because it will have more than 500 shareholders as reported here on Reuters

The exact same situation led to Google's decision to list in 2004. Earlier this week, MindfulMoney related how analysts were predicting that Facebook would list as a result.

Facebook posted a $355m profit for the first nine months of 2010 on a revenue of $1.2bn with the numbers revealed in document released to Goldman Sachs wealthy customers as the investment bank seeks to raise a £1.5bn investment in the social network.

FT.com reports that technology IPOs made up about 10 per cent of US deals last year, according to Barclays Capital, against 5 per cent in 2009 but that figure could reach 15-20 per cent in 2011.

However US website Dot-Com Daze pours some cold water on those getting too excited by the prospect of a return to the internet boom time in the States. Alain Sherter points out that that the US is no longer such a dominant destination for start up capital, not with returns on similar ventures in Brazil giving returns of around 40 per cent.  

In the meantime, the UK government has set aside £200m for technology centres across the UK, reported here in Computer Business Review .

But whether this could lead to a UK Google or Microsoft remains to be seen.

City AM editor Allister Heath doesn't think so

His reason seems to be that we lack the right sort of geek.

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