LinkedIn looks to expand into China
Shares of the new IPO LinkedIn pushed upwards 1% after the company said it is looking to seize business opportunities in China as part of its expansion plans. The company currently has a small presence in the world's fastest growing major economy. LinkedIn is a popular social networking site for professionals.
News of LinkedIn's efforts to increase its China footprint may be one catalyst behind a stellar performance for the Social Networking Stock Index surged 4.9% Since LinkedIn is devoted primarily to professional networking, it may not draw the ire of China's government in a way that other hot social networking firms such as Facebook and Twitter have.
Both Facebook and Twitter are blocked in China. LinkedIn was temporarily blocked in China in February, Reuters reported. LinkedIn noted that it does face political and technical challenges in China and that it isn't close to making a decision, but that it is gathering information on the Chinese market, Reuters reported, citing a LinkedIn executive.
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