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LinkedIn sets price range for IPO

The professional-networking site is nearing its initial public offering, setting the price range at $32 to $35 per share.

LinkedIn today set more details for its upcoming initial public offering. The company is planning to offer 7.84 million shares at $32 to $35 each.

The professional networking site has more than 94.49 million shares outstanding, according to its latest filing with the Securities and Exchange Commission. Reid Hoffman, LinkedIn's co-founder and chairman, will own 21.7 percent of outstanding shares.

With a price range set, LinkedIn's IPO is nearing a launch.

Read more of "LinkedIn sets price range for IPO, $32 to $35" at ZDNet's Between the Lines.