Something’s got to be happening over at LinkedIn (SAI 25 #8). How do we know? Well, VentureBeat tells us its board meeting last week went “way over its scheduled time” and two sources have told them LinkedIn raised another funding round, after burning through wisely spending the previously-raised $27.5 million.
What does it mean? It could mean LinkedIn got some cash. Or if this is anything like the News Corp. sale rumours last year, it could mean, well, less than that.
UPDATE: As a reader gently points out, LinkedIn did claim to be profitable back in Jan. 2007, as it was raising its last $12 million. At the time, LinkedIn also claimed it would be earning $100 million in 2008. As we’ve reported, they are claiming extraordinarily high rates for advertising. We treat most claims of “profitability” with scepticism, and we don’t know why LinkedIn needs to raise more cash with that kind of dough rolling in. No doubt they’ll explain if Allen & Co. can strike a deal.