Professional social networking site LinkedIn is aiming for a valuation of $3.3 billion when it launches its initial public offering this month.

Reid Hoffman, the group’s chairman and co-founder, is selling some shares in the IPO, reducing his equity stake from 21.2 per cent to 20.1 per cent. But at the top end of the pricing range of $32 to $35 a share, unveiled yesterday, his stake would still be worth $660 million.

As his stake in the company comprises voting B shares, which are owned by original shareholders, he will also have 21.7 per cent of the company’s voting rights.

At a market value of $3.3 billion, LinkedIn would be priced at 13 times last year's revenues of $243 million. – Copyright The Financial Times Limited 2011