Bain Capital Ventures, will be the new addition of investor into LinkedIn adding with Greylock Partners, Bessemer Venture Partners and Sequoia Capital to bring the estimated valuation of the company to over USD$1billion. The network has 23 million members with 1.2million new ones every month.
According to Dan Nye, the Chief Executive, the fourth round of financing has raised over USD$53 million from investors. He added that "LinkedIn is growing like gangbusters and it is clearly becoming a critical business tool,"Venture Partner of Bain Capital Ventures Jeffery Glass said that the USD$1billion is a "big number if you think about it in absolute terms." And was quick to conclude too that "We... feel like we'll make a nice set of multiples on our money."
LinkedIn which has so far managed up to USD$80million in funds is not the only Web2.0 startups who have over the past few years garnered such high valuations. Facebook had Microsoft investing USD$240million, while Slide Inc has raised up to USD$50million.

-Zen, MalaysiaToday.com

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