LinkedIn To File IPO Documents -AllThingsD

LinkedIn may file IPO documents today, according to

. Sources close to the potential IPO said LinkedIn is ready to submit its S-1 filing to the Securities and Exchange Commission. This is the first step in an IPO process and LinkedIn may be ready as soon as after today's market close.

LinkedIn has been considering going public for some time. Recent pushes by LinkedIn to incorporate advertising were among the signs that the company is ready to go public. It was

that LinkedIn might be worth up to $3 billion. LinkedIn previously hired investment bankers Morgan Stanley, J.P. Morgan, and Bank of America Merrill Lynch to advise the company in November. The offering is rumored to be likely led by Morgan Stanley, although Goldman Sachs is said to also have a chance in participating in the underwriting team. LinkedIn is a business-oriented network that focuses on professional relationships. The social media giant has over 90 million members in over 200 countries and territories. Commenting in November 2010, LinkedIn CEO Jeff Weiner explained the nature of the company: "People tend to lump us in with Facebook and Twitter, but we're three very different things. Facebook is massive in scale and scope. Twitter is a public communication forum, but if I'm following you, you're not necessarily following me. LinkedIn is, simply, a professional network."