LinkedIn valued at $1 billion

LinkedIn has made a big connection with investors, who are valuing the professional networking company at more than $1 billion. LinkedIn said Tuesday that it had received $53 million in venture capital funding from Bain Capital Ventures and three existing investors in exchange for a 5% stake in the company. [I think that values KT's LinkedIn network at $1.45!] LinkedIn has landed one of the richest valuations for a Silicon Valley start-up since Microsoft handed Facebook an eye-popping $15-billion valuation late last year. Facebook's valuation triggered a social networking gold rush. Ning Inc. and Slide Inc. seized valuations in excess of $500 million, and RockYou came in at $200 million to $300 million. Amid relentless buyout speculation from the likes of Microsoft and News Corp., LinkedIn executives remained mum on the possibility of an initial public offering but say they're charting an aggressive course as an independent company. The 5-year-old firm has been profitable since 2006.
http://www.latimes.com/business/printedition/la-fi-linkedin18-2008jun18,...
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