Tuesday, June 17, 2008
LinkedIn Raises $53 Million at $1 Billion Valuation
In a much-expected financing, LinkedIn has joined the big funding club (Slide, Spot Runner) of late, by raising $53 million at a startling $1 billion valuation.
Why go public when you can just pretend?
Actually, unlike a lot of Web 2.0 start-ups, the professional-networking site has been profitable since 2006.
The new slug of cash comes from new investor Bain Capital Ventures, along with existing investors Sequoia Capital, Greylock Partners and Bessemer Ventures.
