The one big US social network not blocked in China launches its new site there in beta today – as part of a Chinese push previously reported by the Financial TimesRead more

LinkedIn has long been seen as the ugly duckling of social networks, but now it’s starting to preen its feathers. The site is now allowing users to add photos, presentations and graphics to their profiles, creating a “unique professional story” that is rather more glamorous than just a few lines of text.

“Will the resume be displaced?” is how LinkedIn bills the feature. It is trying to do for the CV what Facebook once did for the college yearbook. There’s no particular reason why someone’s career should appear online as it would on a printed page. Read more

Reid Hoffman, partner at Greylock, founder of LinkedIn and an early Facebook investor, is still “bullish” on the world’s biggest social network – but even he wouldn’t buy Facebook shares right now. Read more

LinkedIn acknowledged a security breach of its password databases after Russian hackers claimed to have obtained almost 6.5m user passwords.

The professional social networking site confirmed in a blog post on Wednesday that “some of the passwords that were compromised correspond to LinkedIn accounts.” Read more

The start-up of You: Adapt to the Future, Invest in Yourself and Transform your Career, by Reid Hoffman and Ben Casnocha, Crown Business/Random House Business Books, $26/£12.99

Has a mastery of social networking become a prerequisite for a successful working life? If “friending” and tweeting are now essential skills for the professional classes, where does that leave the chronically network-challenged? And how do you get into the networks where the power-players hang out?

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US regulators charged a financial adviser with trying to sell $500bn-worth of fraudulent securities on LinkedIn, and issued an alert warning investors of a growing number of social media schemes.

The Securities and Exchange Commission also called on investment advisory firms to bring their anti-fraud monitoring systems up to date with the evolutions in online communication.

The actions signal a determination of the SEC to pursue fraud on social media sites, and raise the stakes among the many investment firms who have been struggling to find the right technology to track their staff’s social network activity and comply with federal laws. Read more

Tech news from around the web:

Research In Motion has run into a problem over its BBX operating system – the blending of its QNX and existing BlackBerry software, PaidContent reports. Basis International, which makes software-development tools, has sent a cease and desist letter and a threat of further legal action to RIM on the basis that the new operating system’s name is too similar to Basis’s flagship product, BBx. Read more

There has been no shortage of players from the private secondary markets basking in the reflected glory from the LinkedIn IPO. But by itself, one successful deal does not prove the markets are working effectively, and there are still plenty of reasons to be cautious. Read more

LinkedIn shares hit $92.99 as trading opened before settling to $84.43, a 87.6 per cent increase, after its initial public offering on the New York Stock Exchange on Thursday.

The professional social network sold 7.84m shares for $45 each, according to a company statement on Wednesday.

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There’s no doubt about it: Wall Street is ready to pay up for growth. Even when compared to the heady price Microsoft has just agreed to pay for Skype, the LinkedIn deal looks rich. But this kind of growth is a rare commodity in the public market these days. Read more

Is the secondary market for private company stock – one of the main financial innovations of the last couple of years – just a flash in the pan? Two of the most watched companies, Skype and LinkedIn, are about to be lost in little more than a week. How many others among the top ten will still be around a year from now? See the full list after the break. Read more

Would you trust this man with your money?

If you are thinking of buying shares in the LinkedIn IPO, the answer had better be “Yes”. Reid Hoffman owns a fifth of the social network for professionals. But the little-noticed effect of the company’s unusual share structure is that his control is likely to keep going up… and up… Read more

Social network LinkedIn is hoping for a $3.3bn valuation at its initial public offering later this month. Lex’s Stuart Kirk and Sarah O’Connor discuss whether the company is worth 13 times its revenues. Read more

LinkedIn, the professional networking site with 90 million users, announced a new product today that aims to transform the site from an occasional directory into a daily social destination. Read more

Tech news from around the web:

  • Apple is planning a service that would allow customers to use their iPhones and iPads to make purchases, reports Bloomberg. The company is set to introduce Near Field Communication technology – a system that can beam and receive information at a distance of up to 4 inches – into the next generation of the iPhone and iPad. According to TechCrunch, if Apple can tie NFC directly into its  iTunes payment system, “it could change everything”.
  • The New York Times is poised to unveil its long-heralded online paywall, says the Wall Street Journal. The new system, expected to be rolled out next month, will see the NYT sell an internet-only subscription for unlimited access to the site, as well as a broader digital package that bundles the site with its iPad application.

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Tech news from around the web:

  • Verizon has released its first iPhone 4 commercial, thanking customers who waited for the iPhone finally to arrive at the carrier, TechCrunch reports.
  • Google is to launch Offers, a site similar to Groupon and LivingSocial, that will provide daily discounts on local businesses, Mashable reports.

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Facebook has announced a new look for its members’ profile pages, which, while largely cosmetic, does encourage users to add more information on their work interests.

In upgrading to my new profile page, I was prompted to add my current work information, a move that puts the 500m-strong social network in closer competition with the LinkedIn service. Read more

Twitter and LinkedIn will start letting users sync their accounts starting Tuesday, allowing posts from LinkedIn to appear in Twitter streams, and vice versa. It’s a move aimed at the growing base of business users who take advantage of social networking sites.

LinkedIn, with more than 50m members, is the largest professional network on the web. Twitter, meanwhile, has become a favourite social site for brands, marketers and self promoters (not to mention idle worker bees).

The partnership makes a good bit of sense, and could prove useful. Read more

Marc Andreessen is on a roll. Earlier this month he raised a $300m venture capital fund with his business partner, Ben Horowitz. Now Ning, the social networking startup he co-founded, has raised $15m from Lightspeed Venture Partners at a whopping $750m valuation, according to All Things Digital.

Valuing Ning at $750m seems more than generous, considering the company has never said it is profitable. Even before the economic crisis, these would have been favourable terms. Slide, which makes applications for social networks, last January raised money at a $550 valuation, while LinkedIn, a social network for professionals, got a $1bn valuation last JuneRead more