LinkedIn Boots Billion Dollar CEO

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chainlink1.jpgADOTAS – In what many are saying is a slap in Dan Nye’s face, LinkedIn founder Reid Hoffman is taking over Nye’s post and bringing in former Yahooer Jeff Weiner as interim president. Hoffman brought Nye to LinkedIn early last year.

Under his stewardship, LinkedIn has raised about $70 million in funding ($22.7 million just two months ago). Its current valuation is somewhere just north of $1 billion. Nye is officially leaving in January but will remain (at least nominally) an advisor to the social networking site.

Weiner is currently an entrepreneur-in-residence at Accel Partners and LinkedIn backer Greylock.

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