Turns out linkedin doubled revenue YoY.
http://techcrunch.com/2011/01/27/linkedin-files-for-ipo
Google (gross revenue) was at 3x. http://www.sec.gov/Archives/edgar/data/1288776/0001193125041...
All this is details. It's pretty clear that prices aren't crazily inflated.
(There's profit to consider too, of course, but the business models of these two companies are similar enough that one would expect them to have similar margins.)