LinkedIn is going public too soon, according to an early investor in rival social network Facebook.
Jim Breyer, a venture capitalist with Accel Partners and a Facebook board member, told Bloomberg TV that LinkedIn will be a “long-term very successful company,” but that yesterday’s $175 million IPO filing came too soon.
“I like to wait a little bit longer, I don’t think there is any rush to go to the public markets,” Breyer said. “And certainly the advice we give our CEOs is to take time, remain private as long as you can, build a business, build the profitability and, most importantly, keep the product passion that is the definition of all the great companies out there.”
Breyer also gets asked about the prospect of a tech bubble, what LinkedIn means for other social networking IPOs and whether he’d still work with Goldman Sachs after its Facebook investment debacle. Watch below: