LinkedIn Valued At $1 Billion

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LinkedIn Valued At $1 Billion

Postby snwmark » Wed Jun 18, 2008 3:23 pm

LOS ANGELES TIMES -- June 18 -- LinkedIn has made a big connection with
investors, who are valuing the professional network at more than $1 billion. LinkedIn had received $53m in venture capital funding from Bain Capital Ventures and three existing investors in exchange for a 5% stake in the company. LinkedIn executives remained mum on the possibility of an IPO but say they\'re charting an aggressive course as an independent company. The 5-year-old firm has been profitable since 2006. With 23m members in 150 countries, LinkedIn could generate as much as $100m in revenue this year from premium subscriptions, blue-chip advertisers, job listings and corporate services.

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