We have raised over $100 Million in two years, says LinkedIn founder Reid Hoffman

Kristo — Wed, 04 Feb 2009 03:10:03 +0000

*Hoffman also says MySpace is like a bar and Facebook like a BBQ

The founder and current Chief Executive Officer (CEO) of LinkedIn.com, Mr. Reid Hoffman, has revealed that in the last two years his company already generated over $100 Million in revenue.

Hoffman’s revelation was confirmed by Michael Arrington of Techcrunch who conducted said interview of one of the internet’s most respected moguls, during the World Economic Forum in Davos, Switzerland over the weekend.

Arrington’s interview on Hoffman lasted for twenty minutes and mostly focused on the Linkedin founder’s fundraising activities, plans and company revenue.

Hoffman told Techcrunch his company has successfully raise over $100 Million and 80 percent of which is now kept in the bank. He said last year alone Linkedin generated over $73 Million in revenue.

Hoffman said Linkedin has grown tremendously with its membership growth of a million new members every seventeen days. The company, he said, has been profitable for the last two years. With Linkedin’s 350 people working everyday to keep demands meet, the company rapidly increased its professional membership. In fact, for the European market Linkedin managed to get over nine million active members.

When asked by Techcrunch’s Arrington what would the Linkedin owner do with the $80 Million plus in the bank he answered back to just keep them there while economy is doomed. He said its better to have a thick bank account while the economic status of the country is shaky.

Michael Arrington also asked Hoffman how he would be able to differentiate Linkedin from Facebook and MySpace and his answers were and I quote:

“MySpace is like a bar, Facebook is like the BBQ you have in your back yard with friends and family, play games, share pictures. Facebook is much better for sharing than MySpace. LinkedIn is the office.

Meanwhile, during the interview whether there would be merger between Linkedin and Facebook as what rumors online would want to implicate, Reid Hoffman categorically denied merger talks with the Facebook bosses.

It was learned that prior to Reid Hoffman’s successful founding of Linkedin he was the former Executive Vice president of Paypal. He was taking charge then of the Paypal’s business relationships, corporate and business development, banking and government relations.

It was also during his tenure at Paypal that said company successfully made partnership deals with Mastercard, Visa, Intuit and Wells Fargo.

Today, Hoffman is not only the founder and CEO of Linkedin but he is also setting as Board of Directors of Mozilla Corporation and SixApart.

Digg, Diggers and Dugg: It’s LA Digg Meet up!

Kristo — Tue, 13 Jan 2009 15:43:25 +0000

Its a very exciting event in the Social Media community were everyone meet up. The party people, BEERS, the girls, the diggals, the dance groove and everyone will be dugg. No offense but I am talking about everyone’s favorite social news media site: digg.com, will holding the LA Digg Meet up tomorrow, January 14th, in Los Angeles, CA. It is too pity that I can’t be there, the meet up will be held at Knitting Factory Hollywood. Diggers near the area, this is your chance to party on!

To convince you more, I embed the last meetup in San Francisco with guest celebrities MC Hammer and Jelly D.

Digg Meetup @ Mighty in San Francisco from Digg Meetups on Vimeo.

Enjoy the party diggers! shout me all you posted items in digg afterwards, heres my digg profile to shout with digg/users/kristomagno and dont forget to “digg it” my favorites. Also, I would like to congratulate in advance Kevin Rose and Jay Adelson for a very interactive-successful-dynamic social news website (digg.com), develop it more!

Lastly, back to the party, Kevin says “Try and arrive early – doors open at 7pm and we’re expecting a full house. Details are included on the Meetup Page“.

Social Media Watch » Social Media Party

We have raised over $100 Million in two years, says LinkedIn founder Reid Hoffman

Digg, Diggers and Dugg: It’s LA Digg Meet up!