Web 2.0 companies still attracting investment

LinkedIn, the social network for professional people has raised another $23m in funding. This comes after the US$53 million it was handed in June when the company was valued at $1 billion. According to the Financial Times' tech blog, this round of funding came SAP, Goldman Sachs and McGraw Hill.

CEO Dan Nye was quoted saying that these strategic investors are there to open up new uses for the LinkedIn network, advancing its ambition to become a social platform on which a wider range of online business life takes place.

For instance, the LinkedIn network can already be imported into the Business Exchange that has just been launched by McGraw Hill's Business Week - a service that lets users view content from around the Web that has been aggregated by people in their network.

The mobile advertising marketplace, AdMob, has secured US$15.7 million in a Series C investment round led by Sequoia Capital's Growth Fund with participation from existing investor Accel Partners.

AdMob will use the funding to invest in its advertising services and plans to accelerate the growth of worldwide operations by hiring local staff in key markets and adding new language interfaces.

The emphasis will be on Western Europe, India, South Africa and Japan, according to a report in Telecompaper. The company will also deepen investment in its mobile technology platform, including its targeting, optimisation and ad serving algorithm.