$12.8m for 5%? LinkedIn rings up cash

Interesting funding round - after OpenBC/Xing went public the response from LinkedIn. A postmoney valuation of $250m translates into roughly €194m. (Marketcap Xing today €175m). A valuation of "more than $250m post money", which would imply the $12.8m bought roughly 5% of the firm.

Even more interesting is the involvement of the European Founders Fund, graduating from its usual funding of copycat, erm, silicon valley business models transplated to Germany to a rather later stage involvement with a more mature silicon valley story. Well LinkedIn does need help in Germany ;-)

Via: VentureBeat » LinkedIn raises $12.8M to build out professional network

LinkedIn, the networking site for professionals connect, has raised $12.8 million in venture funding.

The venture capitalists, Silicon Valley’s Bessemer Venture Partners and the European Founders Fund (EFF), an internet focused firm, placed a value of more than $250 million on the Palo Alto company, after the investment.

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