LinkedIn Raised Its Big Round; $53 Million From Bain; $1 Billion Valuation
This story was written by Rafat Ali.
LinkedIn has closed its big round, which it had been working on for a while now in the midst of fielding some acquisition offers from strategics: it has received $53 million in funding, primarily from Bain Capital Ventures, the Boston-based PE firm. The new financing round values the company at $1 billion, NYT reports, which is certainly heady, but at least for a company which has revenues and a clearer business path than others. The company has been on the IPO-watch list for a while now, but this financing probably delays it, and then the public markets being what they are, waiting out with this 'nuclear winter' round makes sense.
This bring the total money raised by the company to over $80 million, has said it would have revenue of $100 million for 2008.
Pic courtesy: tychay .
By Rafat Ali