LinkedIn, the social network for pencil pushers, raised another $22.7 million at the same $1 billion valuation it had when it closed its last round in July. The money came from strategic investors SAP, Goldman Sachs and McGraw Hill. LinkedIn has raised a total of about $100 million.
Luckily for LinkedIn, the round actually closed last month, before the economy tanked. CEO Dan Nye told TechCrunch that LinkedIn has been profitable since 2006, but that given the current economic climate, they may break that streak this quarter. The company has 370 employees and says that sales are more than doubling year-over-year.
What will it use the money for? Staying afloat, of course, and potentially making acquisitions.
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