Reuters: Private Equity: Viadeo raises $32 mln for emerging market boost

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Viadeo raises $32 mln for emerging market boost Apr 12th 2012, 04:59 April 12 | Thu Apr 12, 2012 12:59am EDT April 12 (Reuters) - Viadeo, the world's second-biggest online networking site for professionals after LinkedIn , said on Thursday it has raised $32 million from a group of investors to boost its growth in emerging markets. Paris-headquartered Viadeo, which targets professionals, job seekers and recruiters, shelved plans for an initial public offering in May 2011 to focus on growth in emerging markets. Viadeo, which says it has more than 45 million users, is seeking to position itself as the more international cousin of U.S.-based LinkedIn, with its users coming from Europe, China, India and Latin America. LinkedIn says it has more than 150 million users. Viadeo raised the $32 million, one of the largest European Internet investments over last years, from the French Sovereign Wealth Fund, Allianz, Jefferies, Middle Eastern private funds, and its existing institutional shareholders, Idinvest and Ventech. Both LinkedIn and Viadeo have business models that focus on free initial access for users to post their resumes, followed by paid access for premium users. The sites also sell advertisements to generate revenue. Link this Share this Digg this Email Reprints

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