LinkedIn is a professional networking platform that allows its members to create business connections, search for jobs, and find potential clients. LinkedIn was founded on the 28th of December, 2002, and launched on the 5th of May, 2003. LinkedIn was launched quickly due to the company's founder (Reid Hoffman - co-founder of PayPal and SocialNet and now partner at Greylock Partners) believing an early-stage start-up should 'blitzscale' and not worry if the product is perfect at launch.
On the 1st of November 2003 (after roughly 4 to 5 months), LinkedIn's series A funding round closed, with $4.7 million USD in funding. The series A funding round was led by Sequoia Capital, which entered the deal process fairly late. LinkedIn, prior to receiving the investment, was valued at $10 million and $15 million.
In August 2004, LinkedIn reached 1 million users. In March 2006, LinkedIn achieved its first month of profitability. In April 2007, LinkedIn reached 10 million users. In February 2008, LinkedIn launched a mobile version of the site. LinkedIn is now the world's most used professional social networking platform, with 630 million members.
LinkedIn filed for an initial public offering in January 2011, and traded its first shares on the 19th of May, 2011, under the NYSE symbol LNKD - at $45 per share.
On the 8th of December, 2016, Microsoft acquired LinkedIn Corporation. LinkedIn has been included in it's parent corporations consolidated results of operations starting on the acquisition date. LinkedIn's reporting date has since changed to meet Microsofts, resulting in a perceived drop in annual revenue in 2016.