LinkedIn, the business-focused social networking website, is having a pretty good year so far: its first quarter profits more than doubled sending its shares up by 10 percent. First quarter revenue is 101 percent higher than a year ago and net income is more than double.
Share prices are up – nearly 70 percent higher than at the start of the year – which, as the first prominent social networking site to issue shares to the public, is pretty impressive and signals good news for others (namely Facebook as it prepares to float).
The company also announced an increase in advertising revenue, member signups – now more than 161 million members worldwide – and engagement.
According to LinkedIn this represents its seventh quarter in a row of growth above 100 percent. But how has the company delivered such a continuous level of success?
For a start, the company has changed its focus on advertising. Instead of concentrating predominantly on traditional display advertising, it’s also now concentrating on the practise of selling more services, such as job postings and upgraded LinkedIn accounts.
Plus it’s just announced the purchase of Slideshare, an online hosting service for PowerPoint presentations boasting 29 million monthly users – an online match made in heaven! The two provide all the services professionals need to create and share presentations online, enabling them to discover new connections, and be more productive and successful in their careers.
So, it looks like there’s no better time than now to be using LinkedIn to attract new business, recruit, expose products and/or services, and increase referral and connections!