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Address Profile LinkedIn operates an online social network aimed at business users. The site has more than 23 million experienced professionals from around the world, representing 130 industries and pages for over 50,000 companies. LinkedIn is free for users for basic accounts but offers premium accounts starting at $60 per year for personal users and $19.95 a month for business accounts. The company also sells advertising and says it will reach $100 million in revenue in 2008. Employers can also post jobs on the site for a fee. Bain Capital led a $53 investment round in June 2008. The company announced a $22.7 million investment in October from Goldman Sachs, The McGraw-Hill Companies, and SAP ventures; as well as a re-investment by Bessemer Venture Partners. CEO Dan Nye says the company has been profitable since 2006. History The company was founded by Reid Hoffman and Konstantin Guericke, both Stanford graduates. The two first discussed building a site in 1997. They finally built the site in 2002 and launched in 2003. Prior to LinkedIn, Reid was Executive Vice President of PayPal. At PayPal, Reid was in charge of all business relationships: business development, corporate development, international, government relations, and banking/payments infrastructure. During his tenure at PayPal, Hoffman was instrumental to the acquisition by eBay and was responsible for partnerships with Intuit, Visa, MasterCard and Wells Fargo. Reid also has held management roles in large technology companies, including Fujitsu Software Corporation and Apple. Sequoia Capital led a Series A investment of $4.7 million in 2003. Greylock Partners led a $10 million Series B investment in 2004. Benefits LinkedIn offers workers aggressive compensation
packages which include stock options, medical, dental, and vision
coverage, 401(k) plans, catered lunches and more. © Copyright SVDaily.com |
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