Shares Of LinkedIn Spike Following Mention In Chinese Media

Shares of LinkedIn Corp

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(NYSE: LNKD) spiked higher on Monday after

Sina, a leading Chinese media firm, reported the business networking social network continues to focus on the Chinese market.Shares were relatively quiet in afternoon trading and rose from $255 to $261.46.LinkedIn already has a presence in China and has seen success as it is the only foreign Internet company that is able to offer a product and service that a local Chinese firm does not offer. According to the publication, the social media's expansion in to China comes at a time when the country is facing a shortage of talent and skills.The publication continued, noting LinkedIn's CEO Reid Hoffman first visited China in 2004, when the company was still in its infancy in the U.S. The executive felt that the Chinese market was large enough to consider expanding to and he began to seriously study the Chinese market in 2010, before introducing a Chinese-language website in early 2014 through a partnership with Sequoia China and China Broadband Capital.