LinkedIn, an online business network, has received $12.8 million in funding from Bessemer Venture Partners and European Founders Fund.


LinkedIn, an online business network, has received $12.8 million in funding from Bessemer Venture Partners and European Founders Fund.

LinkedIn is going to use the funds for growing its user base, expansion and investments in new products and markets.

LinkedIn has 9 million members worldwide. It has 350 corporate customers and is growing at a rate of 100,000 members a week, according to LinkedIn.

Reid Hoffman, CEO and Chairman, LinkedIn Corporation, said: “After reaching profitability in March 2006, now is a strategic time for us to acquire additional investment at favorable valuation. We selected Bessemer and EFF from many financing options, because of their global footprint, broad expertise and track record of investing across many industries, all of which can benefit from the power of LinkedIn”. [source]

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LinkedIn Press Release

About LinkedIn

LinkedIn takes your personal business network online, giving you access to people, jobs and opportunities like never before. Built upon trusted connections and relationships, LinkedIn has established the world’s largest and most powerful business network. There are currently over nine million professionals on LinkedIn, representing all five hundred of the Fortune 500 companies, as well as a wide range of household names in technology, financial services, media, consumer packaged goods, entertainment, fashion, and numerous other industries.

 

 

 

 

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