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LinkedIn Breaches 200 Mln Members Mark

LinkedIn Breaches 200 Mln Members Mark
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1/9/2013 10:50 AM ET

Professional-networking website LinkedIn Corp. (LNKD: Quote) said Wednesday that it has breached the 200 million members mark, with new members continuing to join LinkedIn at a rate of two per second globally. The company noted that more than 64 percent of its members are located outside the U.S.

"I'd like to thank each of you for helping build the LinkedIn network into what it is today. It's been amazing to see how our members have been able to transform their professional lives through LinkedIn," SVP of product & user experience, Deep Nishar, wrote in a blog post.

The professional network has grown to 200 million members in over 200 countries and territories. Off the 200 million members, 74 million are from the U.S., 18 million from India, 11 million each from the U.K. and Brazil as well as 7 million from Canada. The fastest year-over-year growth in members came from Turkey, Columbia and Indonesia, in that order.

Meanwhile, the most followed individuals on LinkedIn are British business magnate Sir Richard Charles Nicholas Branson, U.S. President Barack Obama, Wellness guru Deepak Chopra, and American self-help author and motivational speaker Antony Robbins, in that order.

LinkedIn site, available in 19 languages, has more than 160 million unique monthly visitors and is the 23rd most visited Web property in the world in November 2012, according to data compiled by comScore, Inc. (SCOR).

The company was co-founded by ex-PayPal executive and angel investor Reid Hoffman in a living room in 2002. The website LinkedIn.com was launched in May 2003, and it had a total of 4,500 members in the network at the end of the first month in operation.

By the end of 2003, LinkedIn had about 78 thousand members, and reached the 100 million worldwide members mark in March 2011. The company then went public in May 2011, and its shares doubled on debut.

LinkedIn's stock has also risen by a massive 90 percent in 2012, helped by sustained high revenue growth across business segments, international expansion, continued efforts in mobile, and numerous feature enhancements.

Mountain View, California-based LinkedIn has a diversified business model with revenues coming from hiring solutions, marketing solutions and premium subscriptions. Its revenues soared a hundred-fold to $120 million in 2009 from just $1.2 million in 2005. Its revenues grew to $1 billion in 2012.

In Wednesday's regular trading session, LNKD is currently trading at $112.96, up $1.79 or 1.61% on a volume of 0.31 million shares. In the past 52-week period, the stock has been trading in a range of $65.73 to $125.50.

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by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

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