The company was founded in December 2002 by Reid Hoffman and founding team members from PayPal and Socialnet.com (Allen Blue, Eric Ly, Jean-Luc Vaillant, Lee Hower, Konstantin Guericke, Stephen Beitzel, David Eves, Ian McNish, Yan Pujante, Chris Saccheri). In late 2003, Sequoia Capital led the Series A investment in the company. 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.
In June 2008, Sequoia Capital, Greylock Partners, and other venture capital firms purchased a 5% stake in the company for $53 million, giving the company a post-money valuation of approximately $1 billion. In November 2009, LinkedIn opened its office in Mumbai and soon thereafter in Sydney, as it started its Asia-Pacific team expansion. In 2010, LinkedIn opened an International Headquarters in Dublin, Ireland, received a $20 million investment from Tiger Global Management LLC at a valuation of approximately $2 billion, announced its first acquisition, Mspoke, and improved its 1% premium subscription ratio. In October of that year, Silicon Valley Insider ranked the company No. 10 on its Top 100 List of most valuable start ups. By December, the company was valued at $1.575 billion in private markets.
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