The company was founded in December 2002 by Reid Hoffman and founding team members from PayPal and Socialnet.com (Allen Blue, Eric Ly, Jean-Luc Vaillant, Lee Hower, Konstantin Guericke, Stephen Beitzel, David Eves, Ian McNish, Yan Pujante, Chris Saccheri).[18] In late 2003, Sequoia Capital led the Series A investment in the company.[19] In August 2004, LinkedIn reached 1 million users.[20] In March 2006, LinkedIn achieved its first month of profitability.[20] In April 2007, LinkedIn reached 10 million users.[20] In February 2008, LinkedIn launched a mobile version of the site.[21]