Congratulations to LinkedIn on achieving a fourth round of funding of $53m. The investment from Bain Capital Ventures, Sequoia Capital, Greylock Partners and Bessemer Ventures values the business social network at just over $1 billion. Compared to Facebook and MySpace, LinkedIn is the quiet older brother; less fun than the entertainment social networks but monitised, used by business and individuals and growing well. Right now it boasts 23 million members most of whom use it for business development purposes or to safeguard their future career paths by keeping in touch with professional contacts. Unlike many web 2.0 companies that are feeling their way through these fast changing times (and there’s nothing wrong with that) LinkedIn has added features and benefits but remains largely the same model as it was originally intended. The founder, Reid Hoffman, is obviously very wise and when relieved of his duties at exit will also be very wealthy. Good on him.
Tags: Bain Capital Ventures, Bessemer Ventures, Greylock Partners, LinkedIn, Sequoia Capital
