As expected, the "Google of Russia" debuted on the Nasdaq yesterday with great success. Shares soared more than 55 percent, starting with an IPO price of $25 and closing at $38.84.
Reid Hoffman can rest easy tonight. As the founder of the first U.S.-based social network to go public, he’s just become an overnight gazillionaire. Or billionaire, at least. His 19 percent stake in the company was worth $1.5 billion when shares were trading at $81; now they’re hovering around $107.
Will Price says finding the product at a technology startup is a lot like Supreme Court Justice Potter Stewart’s definition of pornography: “You know it when you see it.” At Flite, the ad platform company where Price is the CEO, that process actually happened twice.
LinkedIn has added three new hires from McCann, Electronic Arts and Microsoft to its Marketing Solutions sales team, according to an internal memo circulated this afternoon at the company. The social network site hired Emily Ketchen, previously at McCann Worldgroup San Francisco, to fill a new position responsible for relationships with advertising and marketing agencies.
Networking site LinkedIn said in a filing on Wednesday that that it would list its IPO on the New York Stock Exchange, reported the New York Times’ Deal Book.
Lately, it seems like there’s no one on the Internet who can resist the temptation to try to pull off an April Fool’s prank. Often, that leads to a bunch of jokes that fall flat, but some years are better than others, and 2011 has been one of those. Below, Adweek looks at some of the day’s hits—and misses—from this year.