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LinkedIn the Money

Wednesday, 18 June 2008

LinkedIn = $1 Billion.

Reid Hoffman

Michael Liedtke in the Associated Press reports: "Four venture capital firms are betting Internet startup LinkedIn Corp. is worth $1 billion, highlighting the lofty hopes riding on online services that connect people with their friends, family and business associates."
"The 10-figure valuation is implied by a $53 million investment being announced Wednesday from Bain Capital Ventures, Sequoia Capital, Greylock Partners and Bessemer Venture Partners."

"The investors received a combined 5 percent stake in Mountain View-based LinkedIn, whose 5-year-old Web site helps people use the Web to advance their professional careers."

"It's one of the richest appraisals for a Silicon Valley startup since Microsoft Corp. paid $240 million for 1.6 percent of Facebook Inc. late last year. That deal valued Palo Alto-based Facebook and its online hangout at $15 billion." Read the entire article here.