LinkedIn is one of those rare Web 2.0 companies – it has a business model (sponsorships, subscriptions, advertising) and it’s profitable, it’s become a highly useful tool for more than nine million users, and built a loyal following given all the LinkedIn requests that hit my in-box. So, it’s no surprise the company has raised $11.8 million of venture capital. As much these VC deals are interesting, I’m waiting for the first tranche of Web 2.0 IPOs to hit the market to see if anyone has the chutzpah to actually do an offering. Then again, why go through all the effort if someone’s going to make the liquidation a snap by making a lucrative acquisition offer.

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