LinkedIn is about to score a billion-dollar windfall, raising speculation about how it will spend all that cash.
The company's massive secondary offering of about 5.4 million shares priced at $233 per share late on Wednesday. The sale is expected to raise about $1.2 billion.
Proceeds will be used for product development, international expansion and potential acquisitions, the company said in a statement.
Investors are most interested in LinkedIn's acquisition options. The company could be considering a big purchase -- or perhaps a series of smaller ones.
"To keep up its pace of growth, LinkedIn may need to start looking to the outside," said Scott Sweet, the founder of IPO Boutique. "In tech, especially social media, if you have the money, you're going to acquire."
Reid Hoffman, LinkedIn's founder, is an active investor in Internet startups, and one the most connected entrepreneurs in Silicon Valley.
So far, growth hasn't been a problem for the networking site for professionals.
Since the IPO in May 2011, LinkedIn's stock has risen nearly sixfold, making it the best performing IPO since 2011, according to Dealogic. Just this year, LinkedIn(LNKD) has doubled.