Amid the market carnage, LinkedIn scores $22m cash injection
LinkedIn CEO Dan Nye announced yesterday (via the company blog,
how else?) that the social networking site has scored an infusion of
$22.7 million from Goldman Sachs, The McGraw-Hill Companies, and SAP
Ventures; as well as a re-investment by Bessemer Venture Partners,
bringing its grand total for Series D funding to $75.7 million.

Of course, it never hurts to have more cash, and as paidContent's Rafat Ali notes, the funding will help LinkedIn "ride through the economic downturn,
and pick up some other strategic assets on the cheap if they come
along."

ReadWriteWeb's Rick Turoczy makes some very astute educated guesses as to how LinkedIn will use its cash: "It wasn't long ago that LinkedIn announced a content partnership with The New York Times. It doesn't take a drastic leap of faith to imagine a similar partnership with McGraw-Hill's BusinessWeek. SAP brings another potential partnership to the table. ReadWriteWeb's Bernard Lunn has hypothesized that LinkedIn could replace Outlook and SalesForce. With SAP and its suite of business tools in the mix, that hypothesis could quickly become a reality."

Imeem on the block
PaidContent reports that online music-focused social network Imeem is on the block,
and has hired investment banker Montgomery and Co. to lead the sale –
at roughly the same time that it's learned the company will be laying
off as much as a quarter of its around 80-strong workforce.

Rafat
Ali puts the company valuation as north of $200 million, adding: "They
would probably like more than that, but with the current market,
anything in nine figures would be, well, reality-rational."

Frederic Lardinois at ReadWriteWeb thinks: "Given the current economic climate and the strong competition in the
streaming music business, $200 million might be a rather high number,
however, and this will surely scare off quite a few potential buyers."

Imeem relaunched its site to include more social features earlier this month, and had started offering branded sponsorships to advertisers.

Can't we all just get along?
The big gadget launch of the week, Google's first Android phone, the T-Mobile G1 has been making headlines that go beyond the hardware, with yesterday's announcement that Android Market is now open to users.

TechCrunch's Erick Schonfeld rounds up the top ten Android launch apps – but what's this? No Facebook client? Mike Arrington advises punters to abandon hope for any imminent Android Facebook app, saying: "The bad blood between Facebook and Google may go deeper than anyone has really realized to date."

In a delightful mix of metaphors, Arrington says: "Facebook may be shooting itself in the foot to spite its face (or
however the saying goes) by ignoring the new Android platform. From
what we hear, Facebook has dedicated exactly zero resources to creating
a version of the service for Android, and has no plans to launch
anything at all."