Internet

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Specific Media will pay $35 million, partly in cash and partly in shares, to buy MySpace. It seems that News Corporation will retain a 5% ownership of the social network. In 2006 it was the most popular social network in the USA.

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On May 19 the IPO for the professional social network LinkedIn will start. Trading will take place at the New York Stock Exchange and the symbol of the company will LNKD. 7.84 million shares will be sold at a price per share between $32 and $35 so at the end of the IPO LinkedIn should be valued around $3 billion.

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Yesterday a rumor had become insistent about an agreement with Microsoft which was confirmed later in the day. Bill Gates’ company has signed an agreement to buy Skype for $8.5 billion in cash.

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Yesterday in the social network LinkedIn’s blog an article was published to announce the achievement of the 100 million users threshold. LinkedIn is the largest professional social network in the world. It was founded in December 2002 and launched in May 2003. Over the years it received several investments for a total of over $100 million and in 2006 it started having profits from advertising and the sale of Premium services.