LinkedIn’s approximate valuation after its $53 million funding round in June 2008 was $1 billion.
The round was led by Bain Capital Ventures, with existing investors Sequoia Capital, Greylock Partners, and Bessemer Venture Partners also participating. The investors acquired roughly 5% of LinkedIn, implying a post-money valuation of about $1 billion.
This was a major milestone for a company founded in 2003, especially during the late-2000s social-networking boom. LinkedIn had already built a large professional membership base and generated revenue through advertising, premium subscriptions, job listings, and corporate recruiting services.
A common mix-up is confusing the $53 million raised with the company’s valuation. The funding was the cash invested in the round; the approximately $1 billion figure was the implied value of the entire company after the investment. LinkedIn later went public in 2011 at a substantially higher valuation.