New funding values LinkedIn at $1 billion

The average LinkedIn member is 41 years old with an income of $109,000, Nye said.

The Mountain View, California-based company will use the funds to build its business further and introduce new features.

Nye said LinkedIn plans to introduce its service in several foreign languages this year, but declined to provide specific details.

He said LinkedIn has more than one million members each in India and the United Kingdom.

LinkedIn, which Nye called the "knowledge exchange," lets people connect with others in their profession, search for jobs, make recommendations and check references. In that, it differs from Facebook and News Corp's MySpace, which center around personal interactions.

"People are really finding people on the other side of the planet and reference checking them," Nye said.

The company also may make acquisitions with its new cash, Nye said.

But LinkedIn, which is profitable and generates revenue from advertising and premium subscriptions, has no plans to go public, and neither is it looking to get acquired, Nye said.

(Reporting by Anupreeta Das and Eric Auchard; editing by Carol Bishopric)