Professional networking site LinkedIn valued at $1 billion; Plans European Expansions
Vic Okezie on June 18, 2008 in Recruitment Networking
Professional networking site LinkedIn has been valued at $1bn after clinching new funding from an array of investors including Bain Capital.
In its fourth and largest round of funding since it was founded five years ago, the website secured $53m and plans to use the money to bolster its presence in Europe.
According to the Telegraph, LinkedIn, which established a London base in January, has around 1.5m members in the UK - its largest market in Europe.
The website currently has a team of 8 at its UK headquarters in Marylebone, with plans to attract more than 20 staff by the end of the year. LinkedIn’s European managing director Kevin Eyres said: “Europe is an integral part of LinkedIn’s growth strategy.
The company’s current revenue streams include advertising, subscriptions, job listings and corporate hiring services, and LinkedIn said it is in the process of launching “several new lines of business.”
Linkedin has proved to be of great resource to recruiters who find qualified candidates on the site and network online with colleagues and business contacts.
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