Business network LinkedIn is reportedly gearing up for a possible IPO that would make it one of the first social networks to go public.

Reuters reports that the move could happen as early as next year, thanks to the company’s rapid growth – its membership has doubled to almost 12m in the past nine months.

Chief executive Dan Nye said:

“What we are seeing is revenue accelerate and we expect that to continue next year. We are projecting somewhere in the $100m range next year.”

LinkedIn wouldn’t be the first social network to list - European rival Xing, which has also experienced rapid user growth, raised €35.7m (£24m) in an IPO last year.

Further reading:

LinkedIn to open up its platform