LinkedIn has defied the fall in corporate valuations and warnings from early-stage technology investors to raise $22.7m, valuing the company at $1bn.
The business networking site raised $53m as recently as June. The latest round of fund-raising brings in new “strategic” investors Goldman Sachs, McGraw-Hill, the publisher of Business Week, and SAP, the German business software group.
“The network is booming right now,” said Dan Nye, LinkedIn's chief executive, with a new member joining every second, bringing it to a total of 30m.
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