LinkedIn raises $53 Million, is valued at $1 Billion

View Phil Yanov's profile on LinkedInAccording to TechCrunch, and VentureBeat, LinkedIn has raised $53 million from Bain Capital Ventures, Sequoia Capital, Greylock Partners, and Bessemer Ventures with a company valuation of $1 Billion.

According to VentureBeat, LinkedIn plans to buy other companies that will help it extend its reach and then plans to IPO. The following video, supplied by LinkedIn, features several of the investors absolutely gushing about their recent purchase. What struck a chord with me is that they seem to believe, as I do, that LinkedIn really gets professional networking and the value that an extended professional network can bring to an individual and his organization. The plural of anecdote may not be data, but it does seem to be bring in dollars in this case.

I know people who got married to people they met online, I guess it should not be at all unexpected that people can create businesses after first "hooking up" on LinkedIn.

Of course, Phil Yanov is on LinkedIn

About Phil Yanov

Phil Yanov is a Technologist, Columnist and Public Radio Commentator.

He is the founder of Tech After Five as well as the founder and President of the GSA Technology Council and the IT Leadership Council.

His personal technology column appears in Greenville Business Magazine and the Columbia Business Journal.

He co-hosts the Your Day technology shows heard on NPR radio stations across South Carolina and is a frequent contributor to technology stories appearing on radio and television.