Social Network LinkedIn Raises $53M; Valuation $1 Billion

Authored by Mark Hefflinger on June 18, 2008 - 9:27am.

Mountain View, Calif. - LinkedIn, the creator of an online professional network with more than 23 million members, said on Wednesday that it has secured $53 million in its fourth round of funding, which values the company at just over $1 billion. Bain Capital Ventures led the round, which also included previous investors Sequoia Capital, Greylock Partners and Bessemer Venture Partners.

The funding comes as LinkedIn is in the process of launching several new lines of business.

Its current revenue streams include advertising, subscriptions, job listings and corporate hiring technology.