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LinkedIn

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LinkedIn
Type of site
Professional network service
Created byReid Hoffman
Revenue$17 million (December 31, 2008 Fiscal Year)
Employees20
URLwww.linkedin.com
CommercialYes
RegistrationRequired

LinkedIn (Template:Pron-en) is a business-oriented social networking site. Founded in December 2002 and launched in May 2003,[2] it is mainly used for professional networking. As of 2 November 2010, LinkedIn had more than 80 million registered users, spanning more than 200 countries and territories worldwide.[3] The site is available in English, French, German, Italian, Portuguese and Spanish.[4] Quantcast reports Linkedin has 21.4 million monthly unique U.S. visitors and 47.6 million globally.[5]

Company background

LinkedIn's CEO is Jeff Weiner, previously a Yahoo! Inc. executive. The company was founded 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, and Chris Saccheri).

Founder Reid Hoffman, previously CEO of LinkedIn, is now Chairman of the Board. Dipchand Nishar is Vice President of Products.[6] LinkedIn is headquartered in Mountain View, California, with offices in Omaha, Chicago, New York and London. It is funded by Greylock, Sequoia Capital, Bain Capital Ventures,[7] Bessemer Venture Partners and the European Founders Fund. LinkedIn reached profitability in March 2006.[8]

On June 17, 2008, Sequoia Capital, Greylock Partners, and other venture capital firms purchased a 5% stake in the company for $53 million, giving the company a post-money valuation of approximately $1 billion.[9]

In June 2010, LinkedIn announced it would be opening up a European headquarters in Dublin, Ireland.[10]

On July 28, 2010, Tiger Global Management LLC purchased a 1% stake in the company at a valuation of approximately $2 billion.[11]

On August 4, 2010, LinkedIn announced Mspoke acquisition. This is the company's first acquisition for an undisclosed amount. This acquisition aims to help LinkedIn users do more than just find a job, increase users' activity[12] and improve its 1% premium subscription ratio.[13]

In October 2010 Silicon Valley Insider ranked the company #10 on its Top 100 List of most valuable start ups.[14] LinkedIn has been identified as a possible candidate for an IPO by 2013.[15]

Membership

With 80 million users, LinkedIn is ahead of its competitors Viadeo (30 million)[16] and XING (10 million).[17]The membership grows by a new member approximately every second. About half of the members are in the United States and 11 million are from Europe. With 3 million users, India has the fastest-growing network of users as of 2009. The Netherlands has the highest adoption rate per capita outside the US at 30%.[18] LinkedIn recently reached 4 million users in UK[19] and 1 million in Spain.[20]

Features

The purpose of the site is to allow registered users to maintain a list of contact details of people they know and trust in business. The people in the list are called Connections. Users can invite anyone (whether a site user or not) to become a connection.

This list of connections can then be used in a number of ways:

  • A contact network is built up consisting of their direct connections, the connections of each of their connections (termed second-degree connections) and also the connections of second-degree connections (termed third-degree connections). This can be used to gain an introduction to someone a person wishes to know through a mutual, trusted contact.
  • It can then be used to find jobs, people and business opportunities recommended by someone in one's contact network.
  • Employers can list jobs and search for potential candidates.
  • Job seekers can review the profile of hiring managers and discover which of their existing contacts can introduce them.
  • Users can post their own photos and view photos of others to aid in identification.
  • Users can now follow different companies and can get notification about the new joining and offers available.
  • Users can save (i.e. bookmark) jobs which they would like to apply for.

The "gated-access approach" (where contact with any professional requires either a preexisting relationship, or the intervention of a contact of theirs) is intended to build trust among the service's users. LinkedIn participates in EU's International Safe Harbor Privacy Principles.[21]

LinkedIn also allows users to research companies with which they may be interested in working. When typing the name of a given company in the search box, statistics about the company are provided. These may include the ratio of female to male employees, the percentage of the most common titles/positions held within the company, the location of the company's headquarters and offices, or a list of present and former employees.

The feature LinkedIn Answers,[22] similar to Yahoo! Answers, allows users to ask questions for the community to answer. This feature is free and the main difference from the latter is that questions are potentially more business-oriented, and the identity of the people asking and answering questions is known.

The searchable LinkedIn Groups[23] feature allows users to establish new business relationships by joining alumni, industry, or professional and other relevant groups. LinkedIn groups can be created in any subjects and by any member of LinkedIn. Some groups are specialised groups dealing with a narrow domain or industry whereas others are very broad and generic in nature.

Another LinkedIn feature is LinkedIn Polls.

A mobile version of the site was launched in February 2008 which gives access to a reduced feature set over a mobile phone. The mobile service is available in six languages: Chinese, English, French, German, Japanese and Spanish.[24]

In mid-2008, LinkedIn launched LinkedIn DirectAds as a form of sponsored advertising.[25]

In October, 2008, LinkedIn revealed plans to opening its social network of 30 million professionals globally as a potential sample for business-to-business research. And, in doing so it's testing a potential social-network revenue model-research that to some appears more promising than advertising.[26]

In October, 2008, LinkedIn enabled an "applications platform" that allows other online services to be embedded within a member's profile page. For example, among the initial applications were an Amazon Reading List that allows LinkedIn members to display books they are reading, a connection to Tripit, and a Six Apart, WordPress and TypePad application that allows members to display their latest blog postings within their LinkedIn profile.[27]

In November, 2010, LinkedIn allowed businesses to list products and services on company profile pages; it also permitted LinkedIn members to "recommend" products and services and write reviews. [28]

Restricted access from some countries

In 2009 Syrian users reported that LinkedIn server stopped accepting connections originating from IP addresses assigned to Syria. As company's Customer Support stated, services provided by them are subject to US export and re-export control laws and regulations and "As such, and as a matter of corporate policy, we do not allow member accounts or access to our site from Cuba, Iran, North Korea, Sudan, or Syria."[29]

Cuba, Iran, Sudan and Syria are not available in the list of countries that LinkedIn users can select as one's location. However, as of April 2010, North Korea is still present there.

SNA LinkedIn

The Search, Network, and Analytics team at LinkedIn has a web site[30] that hosts the open source projects built by the group. The most notable one is Project Voldemort,[31] a distributed key-value structured storage system with low-latency similar in purpose to Amazon's Dynamo and Google's BigTable.

See also

References

  1. ^ "Linkedin.com - Traffic Details from Alexa". Alexa Internet, Inc. Retrieved 2010-05-23.
  2. ^ "Linked-In — Profile". alarm:clock. 2004-08-06. Retrieved 2008-01-17. {{cite web}}: Cite has empty unknown parameter: |coauthors= (help)
  3. ^ "LinkedIn - Public Relations Latest LinkedIn Facts". LinkedIn. Retrieved 2010-04-23.
  4. ^ "Italians get a local flavour of LinkedIn". 2010-04-15. Retrieved 2010-04-23.
  5. ^ http://www.quantcast.com/linkedin.com
  6. ^ "About LinkedIn: Management". Linkedin.com. Retrieved 2009-12-07.
  7. ^ "Press Release about Sequoia Capital Investing in LinkedIn". Retrieved 2007-11-14.
  8. ^ "Press Releases: LinkedIn Premium Services Finding Rapid Adoption". LinkedIn. 2006-03-07. Retrieved 2009-12-07.
  9. ^ Guynn, Jessica (2008-06-17). "LinkedIn networks way to $53-million investment". The Los Angeles Times. Retrieved 2008-06-17.
  10. ^ LinkedIn to open HQ in Dublin
  11. ^ "Tiger Global Said to Invest in LinkedIn at $2 Billion Valuation". BusinessWeek.com. 2010-07-28. Retrieved 2010-07-29.
  12. ^ "LinkedIn Hooks Up". Forbes. 2010-08-04. Retrieved 2010-08-05.
  13. ^ "Does local beat global in the professional-networking business?". The Economist. 2009-11-19. Retrieved 2010-08-05.
  14. ^ http://www.businessinsider.com/2010-digital-100-companies-1-100
  15. ^ http://www.businessinsider.com/google-groupon-deal
  16. ^ "LinkedIn competitor Viadeo hits 30 million members". TechCrunch.com. 11 May 2010. Retrieved 25 July 2010.
  17. ^ "Facts and Figures". XING. 1 September 2010. Retrieved 26 November 2010.
  18. ^ "LinkedIn: 50 million professionals worldwide. LinkedIn. October 14, 2009. Retrieved 2009-11-03". Blog.linkedin.com. Retrieved 2009-12-07.
  19. ^ "Four million UK professionals opt for a LinkedIn profile. Retrieved 2010-07-25". bankingtimes.com. Retrieved 2010-07-25. [dead link‍]
  20. ^ "LinkedIn reaches 1 million users in Spain, competitors keep up the pressure. Retrieved 2010-07-25". eu.techcrunch.com. Retrieved 2010-07-25.
  21. ^ "Privacy Policy". LinkedIn. July 14, 2006. Retrieved 2008-01-17.
  22. ^ "LinkedIn Answers unlocks the world's best source of business knowledge: trusted professionals". Linkedin.com. 2007-01-16. Retrieved 2009-12-07.
  23. ^ "LinkedIn Groups FAQ".
  24. ^ "Social-networking site LinkedIN introduces mobile version". tweakers.net. Retrieved 2008-02-25.
  25. ^ LinkedIn DirectAds launch, by Zaki Usman Nov 2008
  26. ^ LinkedIn's promising new revenue model: sending you surveys. By: Neff, Jack, Advertising Age, 00018899, 10/27/2008, Vol. 79, Issue 40. Database: Business Source Complete
  27. ^ Facebook in a Suit: LinkedIn Launches Applications Platform, BusinessWeek, 2008-10-28
  28. ^ "LinkedIn Adopts 'Recommend' Over 'Like'", Clickz.com, 2010-11-02
  29. ^ "Syria: Linkedin Kicks Off Syrian Users!". 2009-04-18. Retrieved 2010-04-30. {{cite web}}: Unknown parameter |published= ignored (help)
  30. ^ SNA-projects.com
  31. ^ Project-voldemort.com
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