LinkedIn Gets $56M Injection & Excites Advertisers

X

Business Networking site LinkedIn said that it has received $AUD 56 million in venture capital funding from Bain Capital Ventures and three existing investors in exchange for a 5 per cent stake in the $1 Billion company.

200806180114174422d 200x150 LinkedIn Gets $56M Injection & Excites Advertisers
Click to enlarge

With this infusion of capital, LinkedIn is poised to roll out corporate services and explore potential advertising deals.

LinkedIn connects professionals with shared contacts and interests and currently has 23 million members in 150 countriess.
According to the Los Angeles Times, LinkedIn says it can “generate as much as $100 million in revenue this year from premium subscriptions, blue-chip advertisers, job listings and corporate services”.

As an invitation-driven service, LinkedIn boasts it now averages a new user every two seconds and research firm Nielsen Online says LinkedIn is pulling in 146 per cent more unique visitors year over year.

The LA Times says in May it was the fourth most-popular social network, with 7.7 million U.S. visitors. And its audience is the kind that impresses advertisers, with the average user is 41 years old and makes about $US110,000 per year.

However LinkedIn also faces rising competition from a bevy of rivals, including publicly traded German professional networking site Xing.com as well as niche players in all segments of its business, notes the LA Times.

BlueAnt 4SQM PumpAirUltra 728x90px LinkedIn Gets $56M Injection & Excites Advertisers
Marshall 728x90 1 LinkedIn Gets $56M Injection & Excites Advertisers
Px7 S3 728x90 1 LinkedIn Gets $56M Injection & Excites Advertisers
FLOODLIGHT 2024 Banner 728x90px LinkedIn Gets $56M Injection & Excites Advertisers
728 x 90 LinkedIn Gets $56M Injection & Excites Advertisers
ChannelNews AZ100 728x90 LinkedIn Gets $56M Injection & Excites Advertisers
MOTO 36331576 Q3 Ad Banners 728x90 2 LinkedIn Gets $56M Injection & Excites Advertisers
FA 979 HN MDF SG14 14gen 728x90 1 LinkedIn Gets $56M Injection & Excites Advertisers
AU X8 Banner 728x90 LinkedIn Gets $56M Injection & Excites Advertisers
Uniden Channelnews SoloX July 2024 728x90 1 LinkedIn Gets $56M Injection & Excites Advertisers
728x90 LinkedIn Gets $56M Injection & Excites Advertisers
BEL2535 BPB024 4SQ Banners 728x90 LinkedIn Gets $56M Injection & Excites Advertisers
HAIER Series 600 FLW HPD Pairs 728x90 1 LinkedIn Gets $56M Injection & Excites Advertisers
Flick of a switch 728x90 1 LinkedIn Gets $56M Injection & Excites Advertisers
Hisense KV BannerAd 728 90 LinkedIn Gets $56M Injection & Excites Advertisers
250527 SAV Channel news June25 Leaderboard 728x90 1 LinkedIn Gets $56M Injection & Excites Advertisers
728x90 LinkedIn Gets $56M Injection & Excites Advertisers
appliance retailer leaderboard may 728x90 Hitachi updated LinkedIn Gets $56M Injection & Excites Advertisers
JBL TourPro3 728x90 LinkedIn Gets $56M Injection & Excites Advertisers
4Square Media Banner Ads Update at 5 July JSAU05JUL1 Buddy 728x90 1 LinkedIn Gets $56M Injection & Excites Advertisers
GOTHAM 728px x 90px LinkedIn Gets $56M Injection & Excites Advertisers
Westan 728x90px LinkedIn Gets $56M Injection & Excites Advertisers
ELX DIG Crosscat Promo 728x90 Mar25 LinkedIn Gets $56M Injection & Excites Advertisers
Skullcandy 728x90 1 LinkedIn Gets $56M Injection & Excites Advertisers
4Square Media Banner Ads Update at 5 July JSAU05JUL1 MR 728x90 1 LinkedIn Gets $56M Injection & Excites Advertisers


YOU MAY ALSO LIKE