LinkedIn Raises Another $13m, What Are They Planning?
Monday, January 29th, 2007;
-- Andy Beal |
Michael Arrington has news that business social network LinkedIn has secured another $12.8 million in financing.
LinkedIn has seen great growth, with $10 million in revenue in 2006 - impressive for any social network - and the successful launch of LinkedIn Answers. So, the question is, with that type of success, what do they need the money for?
Clearly they have plans to roll-out new features but would they need $13m for that? Maybe they’re looking to make an acquisition, which is what my money would be on.
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January 29th, 2007 at 12:18 pm
Did you see where they have 70 employees? 70, really? Doing freaking what? They don’t sell a tangeble product. They don’t have to ship anything. I don’t see a large sales force.
They are either up to something huge or have management who has no clue how to run a company.
January 29th, 2007 at 1:42 pm
That’s weird. They previously announced they were profitable.
January 29th, 2007 at 3:52 pm
Answers has been a HUGE improvement for LinkedIn, but there’s a lot more they can do. And hopefully, that’s what this round of funding is for. They have an opportunity to be the business person’s MySpace — a great resource for information, networking, hiring….there’s a lot of untapped potential in this site and its audience. I look forward to more interactivity and (appropriate)stickiness!