LinkedIn Corp., the largest professional-networking website, increased the price range for its initial public offering (IPO), lifting the company’s potential valuation to as much as $4.25 billion, Bloomberg reported.

The company is offering 7.84 million shares at $42 to $45 each, according to a filing with the U.S. Securities and Exchange Commission. The shares previously had been offered at $32 to $35 apiece.

LinkedIn is the first major U.S. social-networking company to tap the public market for funding, and may be the first in a wave of IPOs by Internet companies. Groupon Inc. is considering a public offering, and Facebook Inc. may pursue an IPO in 2012.

Morgan Stanley, Bank of America Corp. and JPMorgan Chase & Co. are leading the offering.

LinkedIn members use the site to search for jobs, recruit employees and find industry experts. The company introduced paid subscriptions in 2005, and it also makes money by selling advertisements on the site.

About 62 percent of the shares in the offering are being sold by LinkedIn, which said it plans to use the proceeds to fund existing operations and expand the business.