Professional Social Network, LinkedIn Looking For $1 Billion Valuation
Reid Hoffman is part of the PayPal alumni club. Â Former PayPal employees include:
1. Steve Chen, Chad Hurley, and Jawad Karim – YouTube founders
2. Roelof Botha – Sequoia Capital Partner
3. Jeremy Stoppleman – CEO of Yelp
4. Max Levchin – CEO/Founder of Slide
5. Elon Musk – Founder of SpaceX
6. Peter Thiel – President of Clarium Capital and early Facebook investor
There seems to be a trend of former PayPal employees that go off and start their own successful ventures. Â And LinkedIn is no different.
Dave Wehner, a Director at Allen & Company is working with LinkedIn to find venture capital for the professional network to be given a valuation at $1 billion. Â This valuation is about 1/15th of rival, Facebook. Â Wehner also supposedly helped Bebo sell to AOL for $850 million. Â
LinkedIn has raised over $27.5 million thus far in the form of 3 rounds. Â The company is expected to earn $100 million in revenue this year.
I have a LinkedIn account, but I rarely use it. Â I really only login when another friend adds me. Â I think that’s the social networks greatest flaw: retention. Â I could be the only one, but I’ll let this poll decide.
 TechCrunch: Â Allen & Co. Pitching LinkedIn At $1 Billion by Michael Arrington
ÂThis article was written by Amit Chowdhry. You can follow me at @amitchowdhry or on Google+ at +AmitChowdhry