expects to complete an
, but not in the near future, according to
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
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
Bessemer Venture Partners
, named former
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
Research In Motion's
The Silicon Valley company, however, is not the only social networking heavyweight taking an unhurried approach to its IPO.
for example recently told
that its offering is not imminent, despite its setting up a dual-class stock structure similar to that employed by
prior to its 2004 IPO.
has nonetheless been heating up recently, as evidenced by recent offerings from
Global Defense Technology
The global economic slowdown prompted a hiatus for tech-related IPOs, although 2009 has seen a number of firms take the
during the summer,
Other tech-related offerings this year
and language learning software firm
-- Reported by James Rogers in New York