LONDON (

TheStreet

--

LinkedIn

expects to complete an

IPO

, but not in the near future, according to

Reuters

.

The business networking site, which has over 50 million members, has been attracting plenty of IPO chatter, although co-founder and executive chairman Reid Hoffman says that an offering is not imminent.

"Probably at some point a balance will occur when that's the right thing, that will not occur in the near term," he told

Reuters

.

Speaking at a London event to celebrate LinkedIn reaching 3 million users in Britain, Hoffman explained that the network has not had to tap the $76 million it raised in Series D funding last year.

"We haven't spent a dime of our last financing," he explained. "I think our numbers are good enough that we are not driven by the market."

LinkedIn, which is backed by

Goldman Sachs

(GS) - Get Report

,

SAP

(SAP) - Get Report

Ventures,

McGraw Hill

(MHP)

, and

Bessemer Venture Partners

, named former

Yahoo!

(YHOO)

executive Jeff Weiner as CEO earlier this year, and has recently been on a partnership tear. The Mountain View, Calif.-based firm has forged deals with

Palm

(PALM)

,

Microsoft

(MSFT) - Get Report

,

Twitter

and

Research In Motion's

(RIMM)

Blackberry division.

The Silicon Valley company, however, is not the only social networking heavyweight taking an unhurried approach to its IPO.

Facebook

for example recently told

Reuters

that its offering is not imminent, despite its setting up a dual-class stock structure similar to that employed by

Google

(GOOG) - Get Report

prior to its 2004 IPO.

The tech

IPO market

has nonetheless been heating up recently, as evidenced by recent offerings from

Fortinet

(FTNT) - Get Report

Archipelago Learning

(ARCL)

and

Global Defense Technology

(GTEC)

.

The global economic slowdown prompted a hiatus for tech-related IPOs, although 2009 has seen a number of firms take the

public plunge

. These

include

Emdeon

(EM)

, which

went public

during the summer,

Avago Technologies

(AVGO) - Get Report

,

CDC Software

(CDCS)

and

LogMeIn

(LOGM) - Get Report

.

Other tech-related offerings this year

include

Ancestry.com

(ACOM)

restaurant reservation Web site

OpenTable

(OPEN)

network management software

company

SolarWinds

(SWI) - Get Report

,

hi-res imagery specialist

DigitalGlobe

(DGI)

and language learning software firm

Rosetta Stone

(RST) - Get Report

.

-- Reported by James Rogers in New York

.