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LinkedIn to raise $1bn through share sale

The world's biggest professional-networking website, LinkedIn Corp has filed to raise about $1bn in a stock sale, after a fivefold surge in its shares since its initial public offering in 2011, Bloomberg has reported. The California-based company last raised money in November 2011 in a $701.5m offering. As in that sale, LinkedIn said the cash will be used for working capital, product development and possibly to make strategic acquisitions or investments.