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LinkedIn Worth "A Lot More" Than $1 Billion

  • GoWest, Thursday, November 29, 2007 11:01 AM
Is LinkedIn is exploring a possible sale to MySpace parent News Corp.? Dan Nye, the social network's CEO, doesn't deny that Rupert Murdoch made an offer, but he maintains that the company's board is more interested in building LinkedIn than cashing out. "It would take a helluva lot to get us off that path," Nye says. $1 billion? More than that, he says.

Might News Corp. make the board an offer it can't refuse? Several news outlets, including Breakingviews.com and TechCrunch UK (which started the rumor) points out that a LinkedIn acquisition would make sense for Murdoch's media empire. The social network for professionals could power an interactive classifieds section for the Wall Street Journal and MySpace.

LinkedIn is also in the midst of tremendous growth. Since February, when Nye joined as CEO, the company has grown from 9 million to 17 million members, while adding nearly 140 new employees. Nye predicts that 2007 revenues will range between $75 and $110 million.

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