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LinkedIn raises $53 million in funding led by Bain Capital

Professional networking site LinkedIn has raised $53 million in the fourth round of funding led by Bain Capital Ventures with participation from LinkedIn’s existing investors Sequoia Capital, Greylock Partners and Bessemer Ventures. LinkedIn had previously raised $27 million. According to LinkedIn, the investment of $53 million by its partners values the company at over $1 billion.

Professional networking site LinkedIn has raised $53 million in the fourth round of funding led by Bain Capital Ventures with participation from LinkedIn’s existing investors Sequoia Capital, Greylock Partners and Bessemer Ventures. LinkedIn had previously raised $27 million. According to LinkedIn, the investment of $53 million by its partners values the company at over $1 billion.

“This significant investment is indicative of the confidence shared by our investors in our business model and our long-term growth strategy,” Dan Nye, CEO, LinkedIn, has said. Five-year-old LinkedIn has 23 million members worldwide. According to Dan Nye, LinkedIn has been profitable since 2006.

“This additional funding will give us even more flexibility to execute on our vision for millions of professionals to increase their effectiveness by using LinkedIn to build relationships and exchange knowledge, opportunities and advice,” Dan Nye has added.

Update

According to Dan Nye, LinkedIn has more than one million members in India. [Source: Reuters]

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