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Greg Leffler, a site reliability engineer at LinkedIn, works outside his company's Mountain View, Calif., headquarters.
Greg Leffler, a site reliability engineer at LinkedIn, works outside his company's Mountain View, Calif., headquarters.
(Noah Berger/AP)

FINANCIAL TIMES

Facebook sees LinkedIn and Yelp in rear view mirror

Lex is a premium daily commentary service from the Financial Times. It helps readers make better investment decisions by highlighting key emerging risks and opportunities.

Congratulations to Facebook Inc. for – 15 months later – breaking through its IPO price of $38 (U.S.) per share. With its shares falling as far as $19 at one point the renaissance feels exhilarating. But Facebook investors should avoid spoiling their glee by not looking at fellow 2011/2012 internet IPO classmates, LinkedIn and Yelp. Shares in those two companies have rocketed 400 per cent and 300 per cent respectively from their listing prices.