Briefs

By Anna Maria Virzi, The ClickZ Network, Jun 18, 2008

LinkedIn, the online professional networking platform, received $53 million in a second round of funding from investors for a reported 5 percent share in the company.

That puts the value of LinkedIn at an estimated $1 billion. With 23 million members, that investment -- and valuation -- represents $43.48 per member.

LinkedIn CEO Dan Nye said Bain Capital Ventures joins LinkedIn's existing investors, Sequoia Capital, Greylock Partners, and Bessemer Ventures. The company previously raised $27 million from investors.

Nye, writing on the LinkedIn blog, said the funding will help the company develop features to help its members build relationships and exchange knowledge.

Recently, LinkedIn made it possible for businesses to use the network as a marketing tool. For instance, a business can promote its profile on LinkedIn with targeted display ads, sponsorships of the "Answers" category, among other measures, according to Harry Gold, chief executive of Overdrive.

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