LINKEDIN, the blue button to the left of this post, received $12.5m in venture capital to expand its growth beyond 100,000 new members a week. Bessemer Venture Partners value LinkedIn at $250m. LinkedIn has shown a profit since 1Q06 and has a clear revenue line originating from several of its services.
I like LinkedIn but that's because I have encountered no noise on it and because some of the most thoughtful Irish developers have LinkedIn profiles. I've received three job offers through it. LinkedIn shows a big gap in my social network because the people who worked alongside me in the late 80s have rarely talked about their work outside the job. It appears this characteristic extends to social networking because they're simply not on LinkedIn's service. If the VC funding is used to attract analysts inside the Washington D.C. beltway, LinkedIn could develop a sweet spot for specialised employment opportunities. I think this could happen and if it does it will deflate the placement fees of dozens of headhunters I've known during my career.