Yes, that’s what I said. Do you know that LinkedIn has been profitable for the past 2 years?
Along with a valuation of $1 Billion last year, it has generated more than $100 million in revenue (mainly through ads selling, premium accounts and recruitment platform) and is currently looking to increase its workforce by 50% this year.
According to its statistic, 1 member is joining LinkedIn every second, adding up to more than 48 million members so far.
LinkedIn has certainly lived up to its name as THE online social networking for professionals. This explains why executives from all Fortune 500 companies are members of LinkedIn!
According to Reuters, LinkedIn is
“…one of the Silicon Valley companies most eligible to go public, but founder Reid Hoffman and Weiner have said they are in no rush for an initial public offering. They have said there is no need to raise funds because expansion is being paid for from profits.”
For the benefit of people who are unfamiliar with LinkedIn, here’s a video to get started:
With all that said, LinkedIn could be seriously challenged if Facebook steps in with a business filtering feature, that allows its user to separate personal and work life. The question is, would it ever be possible?
Nonetheless, LinkedIn is probably over the moon with its success this year and we wish it all the best!
Updated on 14 Oct: Now has officially 50 million users 🙂
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