LinkedIn raises $53m in funding

LinkedIn, a networking site for professionals, has raised $53m (£27m) of new funding from investors.

The financing by venture capitalists values the Silicon Valley start-up at more than $1bn, reflecting investor confidence in online communities.

Five-year-old LinkedIn has 23 million members worldwide and attracts 1.2 million new members every month, according to the the company. LinkedIn connects people in the workplace, helping them search for new jobs and make professional contacts, whereas people use sites such as Facebook, MySpace and Bebo for social reasons. Networking sites have been on the rise since Microsoft paid $240m for a 1.6% stake in Facebook last year. That deal valued Facebook at $15bn. Read more…..

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‘Lower prices’ boost mobile data

Price cuts and the popularity of 3G are prompting Europeans to use mobile data like never before, says a survey.

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I Phone 2 launch due to be announced!

The launch of Apple’s second generation of its iPhone device is espected in San Francisco this week at the Apple World Wide Developers’ Conference.

Analysts predict the new iPhone will have faster 3G wireless connectivity after the original was widely criticised for its much slower 2G connectivity.

 

Apple has sold more than five million iPhones since June last year and the firm says it is on course to sell 10m iPhones by the end of 2008. Raising its share of the global market (currently 5%)is a key target. It is also anticipated that the company will allow mobile network partners to subsidise the cost of the iPhone to achieve this aim by reducing the cost to teh consumer dramatically!