LinkedIn Receives $53 Million In Funding
It’s been quite some time since Facebook was valued at $15 billion. Everyone’s had the opportunity to pick up their jaws, reinsert their eyeballs, and so on. It hopefully won’t come as too much of a shock, then, that LinkedIn’s received $53 million in funding, putting its worth in the neighborhood of $1 billion.
Is $1 billion too much? The Dow’s only 62 points away from passing under the 12,000 mark. Is it too little? Compare the bank accounts of LinkedIn’s users to those controlled by Facebook fans, and then ask an advertiser which group looks better.
Some of LinkedIn’s backers seem to feel $1 billion is low. Backers are supposed to feel that way, of course (especially when they’re on camera), but since LinkedIn’s investors include Bain Capital Ventures, Sequoia Capital, Greylock Partners, and Bessemer Ventures, we’re not talking about clueless cheerleaders.
In a post on the LinkedIn Blog, CEO Dan Nye notes that his company has been profitable since 2006, and continues, "This additional funding will give us even more flexibility to execute on our vision for millions of professionals to increase their effectiveness by using LinkedIn to build relationships and exchange knowledge, opportunities and advice."
Finally, for better or for worse, there was no indication that normal people and the stock market will get to involve themselves in LinkedIn’s finances anytime soon.