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Jun 18 2008 12:00am EDT
Is LinkedIn Worth $1 Billion?
Sam Gustin notes: LinkedIn has closed a $50 million funding round with Bain Capital Ventures, Sequoia Capital, Greylock Partners, and Bessemer Ventures that values the company at over $1 billion.
The companies now own 5 percent of the business-oriented social network. After four funding rounds, LinkedIn has raised over $80 million.
"If LinkedIn is able to reach it's goals and objectives in the coming years, this valuation of $1 billion will be looked upon as very cheap," said Mark Kvamme, a partner at Sequoia Capital.
LinkedIn has long stressed that it is the online social network for grown-ups.
"Because we're professional, we're not about having people waste time," LinkedIn vice president Patrick Crane told Portfolio.com earlier this year.
Laura Rich is a co-founder of Recessionwire, which provides news, advice, perspective and humor about the recession and the recovery.
