Updated: LinkedIn CEO Coy On Sale Rumors; $1 Billion Not Enough
By Joseph Weisenthal - Wed 28 Nov 2007 08:55 AM PST
With rumors flying about a possible sale of LinkedIn to News Corp., (NYSE: NWS) Dan Nye, CEO of the professional social networking site, told Fortune’s Adam Lashinsky that he remains committed to “go long.” He didn’t deny that a buyout offer had been made, just that it would take a “heckuva lot”—well more than $1 billion—for the company to agree to a sale. Of course, you wouldn’t really expect Nye to say anything else, even if the company were deep in talks. Meanwhile, says Nye, the company has 200 employees, nearly 17 million members—up from 9 million when he came on board in February, and expects $75 million - $100 million in revenue next year.
Update: Momentum for such a deal may be growing on Wall Street. Goldman internet analyst Anthony Noto told the Reuters Media Summit that LinkedIn would make for a good strategic fit at News Corp., complementing the assets of Dow Jones. Of course, it still comes down to the two sides agreeing on a price.
Posted in: Companies, News Corp., Social Media, VC+M&A
