LinkedIn Launches Research Network, Reels in $22.7M
ADOTAS – Never a company to sit idle, LinkedIn has been especially busy lately. Not only has the company introduced a research network for marketers and investors seeking intelligence from the company’s 30 million members, it has raised $22.7 million to boot.
LinkedIn Surveys aims to utilize “deep profile information on its members, who are working across all segments of the economy worldwide … provid[ing] the scale, reach, and targeting that market research firms need to complete hard-to-fulfill B2B projects,” the company stated.
“LinkedIn overcomes quality and authenticity issues that other sample providers face,” said Dan Shapero, Director of Business Services, LinkedIn. “Because of the public and self-policing nature of LinkedIn, members provide deep and accurate profile information and they update that information constantly.”
The new funding comes from Goldman Sachs, The McGraw-Hill Companies and SAP Ventures, a division of SAP AG — as well as a re-investment by Bessemer Venture Partners. This financing is a follow on of the Series D fund-raising round LinkedIn announced in June of 2008, in which the company raised $53 million in funding led by Bain Capital Ventures. The valuation for the Series D was just over 1 billion dollars for the $75.7 million raised.
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