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LinkedIn Valued at $1 Billion

LinkedIn has raised another $53 million in venture capital to give the company a rough valuation of $1 billion.The social networking company said in a post that its latest round was led by Bain Capital Ventures, which joins Sequoia Capital, Greylock Partners and Bessemer Ventures. LinkedIn raised $27 million previously.

The deal has received a fair amount of attention on Techmeme and LinkedIn has a nice profile in the New York Times. The takeaway: Social networking for business is a good business.

Larry Dignan is Editor in Chief of ZDNet and Editorial Director of ZDNet sister site TechRepublic. See his full profile and disclosure of his industry affiliations.
Credit: ZDNet