LinkedIn, a networking website for business-oriented people and professionals, claims that it is already profitable. To add to that, it has received a fresh round of funding. The money will be used for making acquisitions and expanding its overseas operations.

Dan Nye, the chief executive of Linked stated:

We wish to create a broad, critical business tool, which is used by tens of millions of business professionals on a daily basis to make them better at what they do.

What we did not want is to have the distraction of being public and then to get worried by quarterly performance.

LinkedIn gives professionals a painless way of following the advice of every career counsellor: build a network. Its users maintain online résumés, apart from establishing links with business colleagues and acquaintances. They then expand their networking to the ‘contacts of their contacts’. The service also assists them in searching for experts who can play a role in solving daily business problems.