So they have no revenue and provide a service that others also provide? Sounds like some big money wants to hold it up for some reason....
Nobody cares. Here, if you want to make some ense of it: http://www.bloomberg.com/blogs/paul-kedrosky/2011/05/some-linkedin-lessons-implications.html
I agree with that article: LinkedIn surely benefited from the hype surrounding 'social media', and being the first one through the door.
this type of companies are spying machines and worth only depends on number of people joining in. Big guys clearly buying it with idea to increase number of people so they get full benfit of spying results -> they are commited. And of course, you want to short it. It is classic bubble and prices will go up a lot. At least until all ipos are over.
Can you imagine what will happen when facebook goes public? I see a market cap of 500 billion dollars. Doesnt matter if its worth it, because people are brainless. They will buy the hype, just like they did with the dot coms and just like they did with housing.