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Address Profile LinkedIn operates an online social network aimed at business users and has experienced rapid growth. The site has more than 100 million members from over 200 countries around the world, representing 170 industries and pages for over one million companies. The company went public on May 19, 2011 at the price of $45 per share and sold 7.84 million shares. The price more than doubled on the first day of trading. LinkedIn is free for users for basic accounts but offers premium accounts for business users starting at $24.95/month to $499.95/month. The site lets users find potential clients or business partners and also help locate key executives at companies they are interested in working at. You can also see people who have been recently promoted for positions at specific companies. In addition to subscription fees, LinkedIn company also generates revenue from advertising. Employers can also post jobs on the career section for a fee. LinkedIn has over 5 million members in the U.K. and 8 million in India. Bain Capital led a $53 investment round in the company June 2008. In October 2008, LinkedIn raised $22.7 million from Goldman Sachs, Bessemer Venture Partners, The McGraw-Hill Companies, and SAP Ventures. Original investors include Sequoia Capital and Greylock Partners. In the nine months ending September 30, 2010, LinkedIn reported revenues of $161.4 million and net income of $10.0 million. 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 Personal Time Off - You will have 18 days of paid vacation a year, plus 11 paid holidays. Work hard, play hard, right? Other benefits include free catered lunch every day and snacks including ice cream available 24 hours. © Copyright SVDaily.com |
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