When LinkedIn initially reared its head in headlines across the tech blogs and websites, many were skeptic that the professional social network may soon fade off. Pitted against Facebook, some went so far as to claim that LinkedIn stood no chance. However, that has proved wrong as LinkedIn continues to register excellent growth and great quarterly revenues.
LinkedIn’s annual revenue stands at $836 million as of now. That is significantly lower than Facebook’s annual revenues, but LinkedIn’s growth is very impressive. Since the company went public, it has reported a revenue growth of 67 percent.
Whereas those numbers are impressive enough, what is even more intriguing is that despite the competition from Facebook, LinkedIn has been amassing more users over time. Last month, the company claimed that it had crossed the user count of 200 million, which is a huge number for a service geared at professional services.
Moreover, a sizable number of corporate recruiting departments have also signed up for the service. Typically, such entities make use of LinkedIn’s premium services, bringing more cash to the table and amassing more success. Moreover, it knits the web more tightly in favor of LinkedIn – if a recruiter is on LinkedIn, the user has to be there if he wishes to apply.
One thing in which LinkedIn hasn’t garnered much success is its revenue through the editorial pages. Although the news section of the website still attracts huge traffic, the growth of the traffic has more or less halted. This essentially shows that not many users are interested in the content churned out by LinkedIn. However, with its strengths in other section, the company can go on to become a significant Facebook contender in the coming days.
Source: LinkedIn
Courtesy: Wired
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