SW Sponsored Content Left 3 160x1200

SW Sponsored Content Right 3 160x1200

×

Warning

JUser: :_load: Unable to load user with ID: 63

SW Sponsored Top Banner 3 705x108

Thursday, 19 June 2008 11:17

LinkedIn scores $53m funding

By
Social networking site LinkedIn has secured its fourth, and largest, round of venture funding: a $US53 million injection led by Bain Capital Ventures with additional reinvestment from the company's existing investors including Sequoia Capital, Greylock Partners, and Bessemer Venture Partners.

The company said the funding was based on its rapid member growth, multiple business lines and future opportunity. LinkedIn's current revenue streams include advertising, subscriptions, job listings and corporate hiring solutions. It is in the process of launching several new, unspecified lines of business.

The company claims a membership of over 23 million professionals representing more than 170 industries, 150 countries, and including executives from all of the Fortune 500 companies. "Our investment in LinkedIn is based on the company's opportunity, solid and diversified business model, smart strategy for growth and strong management team," said Bain partner, Jeffrey Glass. "We look for companies that offer sustainable return on our investment with many multiples, and we expect LinkedIn will deliver by being essential to millions of professionals around the world."

LinkedIn secured its first funding, $US4.7m in November 2003 led by Sequoia Capital, the venture investors behind Yahoo!, Google and PayPal and also an investor in online contact updating tool, Plaxo. This was followed by $US10m in Series B funding in October 2004 led by Greylock, an early-stage venture capital firm credited with producing the largest number of initial public offerings. Of the over 250 companies Greylock had funded, 120 had become publicly held. LinkedIn also announced the addition of 14 angel investors, including Marc Andreessen, co-founder of Netscape and, Joe Kraus, co-founder of Excite and Peter Thiel, co-founder of PayPal.

There followed a third round, in January 2007, of $US12.8 million led by Bessemer Venture Partners, the oldest venture capital practice in the US and including the European Founders Fund (EFF). LinkedIn claimed to have achieved profitability in March 2006.


Subscribe to ITWIRE UPDATE Newsletter here

GRAND OPENING OF THE ITWIRE SHOP

The much awaited iTWire Shop is now open to our readers.

Visit the iTWire Shop, a leading destination for stylish accessories, gear & gadgets, lifestyle products and everyday portable office essentials, drones, zoom lenses for smartphones, software and online training.

PLUS Big Brands include: Apple, Lenovo, LG, Samsung, Sennheiser and many more.

Products available for any country.

We hope you enjoy and find value in the much anticipated iTWire Shop.

ENTER THE SHOP NOW!

INTRODUCING ITWIRE TV

iTWire TV offers a unique value to the Tech Sector by providing a range of video interviews, news, views and reviews, and also provides the opportunity for vendors to promote your company and your marketing messages.

We work with you to develop the message and conduct the interview or product review in a safe and collaborative way. Unlike other Tech YouTube channels, we create a story around your message and post that on the homepage of ITWire, linking to your message.

In addition, your interview post message can be displayed in up to 7 different post displays on our the iTWire.com site to drive traffic and readers to your video content and downloads. This can be a significant Lead Generation opportunity for your business.

We also provide 3 videos in one recording/sitting if you require so that you have a series of videos to promote to your customers. Your sales team can add your emails to sales collateral and to the footer of their sales and marketing emails.

See the latest in Tech News, Views, Interviews, Reviews, Product Promos and Events. Plus funny videos from our readers and customers.

SEE WHAT'S ON ITWIRE TV NOW!

BACK TO HOME PAGE

Share News tips for the iTWire Journalists? Your tip will be anonymous

WEBINARS ONLINE & ON-DEMAND

GUEST ARTICLES

VENDOR NEWS

Guest Opinion

Guest Interviews

Guest Reviews

Guest Research

Guest Research & Case Studies

Channel News

Comments