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LinkedIn Raises $22.7 Million Venture Capital

October 27th, 2008 by Social Guy

 

LinkedIn

LinkedIn Corporation has secured $22.7 million in new funding from world-leading strategic investors Goldman Sachs; The McGraw-Hill Companies; and SAP Ventures, a division of SAP AG; as well as a re-investment by Bessemer Venture Partners.

This financing is a follow on of the Series D fundraising round LinkedIn announced in June of 2008, in which the company raised $53 million in funding led by Bain Capital Ventures. The valuation for the Series D was just over 1 billion dollars for the $75.7 million raised.

LinkedIn takes your personal business network online, giving you access to people, jobs and opportunities like never before. Built upon trusted connections and relationships, LinkedIn has established the world’s largest and most powerful business network. Currently, over 30 million professionals are on LinkedIn.

“We secured this investment with innovators in enterprise software, investment banking and business information who see the potential to create value and transform industries through the LinkedIn platform,” said LinkedIn CEO, Dan Nye. “These leading companies understand that LinkedIn is building a network with broad and enduring value.”

LinkedIn is currently growing at a rate of half a million new members a week. Members experience the benefits of the purpose-driven network by finding new ways to interact and do business. While standard LinkedIn accounts are free, the company earns revenue through advertising, premium subscriptions, corporate solutions, and job listings. LinkedIn recently added a new line of revenue with LinkedIn Surveys.

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Posted in Community, Social Networking, Venture Capital | Comments

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