|LinkedIn Asia Pacific Managing Director Arvind Rajan speaks during a press briefing on Tuesday, May 31, 2011 in Singapore. The online professional networker announced it is opening its Asia Pacific headquarters in Singapore on Tuesday. (AP Photo/Wong Maye-E)|
LinkedIn opens Asia headquarters in Singapore
SINGAPORE—Career networking website LinkedIn opened its Asian headquarters in Singapore on Tuesday, part of a plan to tap the region's large pool of professionals.
LinkedIn plans to hire more than 12 staff in Singapore to add to the company's three offices in India and two in Australia, Asia Pacific Managing Director Arvind Rajan said. The company is also looking at opening an office in Japan this year, Rajan said.
"We're just getting started in Asia," Rajan told reporters.
LinkedIn's stock price doubled during its initial public offering on Wall Street earlier this month, sparking talk of another 1990s-style tech bubble with investors valuing the company at about $9 billion.
LinkedIn stock was issued at $45 on May 19 and shot to as high as $122.70 before closing at $94.25. The company last traded at $88.32 on Friday.
Rajan said he expects "continued, sustained" growth in Asia this year.
The company's users in Asia grew 130 percent in the year ending in March, bringing total members in the region to 18 million out of more than 100 million worldwide.
LinkedIn, which started in 2003, is based in Mountain View, California.