LinkedIn User Base Grows By 60% In 2011

LinkedInSharing their second ever earnings statement as a publicly traded company LinkedIn revealed on Tuesday that the company has witnessed 60% user growth in 2011.

The company also revealed that more of their increased user base comes from unique visitors, an important metric for advertising purposes while their revenue has doubled.

LinkedIn also announced that 51% of their quarterly revenue was helped along by their Hiring Solutions which makes perfect sense during a down economy.

In the coming months LinkedIn hopes to expound upon their success with new applications including the Apply Through LinkedIn applications while targeting newly graduated students thanks to the recently launched Classmates tool. 

Also adding to a successful year has been the doubling of the company’s premium subscriptions which now accounts for 20% of their overall revenue while Marketing Solutions added 32% of their bottom line.

LinkedIn’s financial report also pointed to extended growth in Russian, Turkey and Romania which all saw quickly increasing numbers in 2011.

LinkedIn will launch their Japanese website in the coming months.

It will be interesting to see what type of technologies and locations LinkedIn launches in 2012 as other social networks including Google+ and Facebook are expected to enter the job search market. Facebook for example recently struck a deal with the U.S. Labor Department.

Do you think LinkedIn will remain the “go to” place for employers and employees despite efforts by other established and growing social networks?




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