LinkedIn hits One Million Users

Technology News from Ascentive:

Free business social networking site LinkedIn has announced that it has reached one hundred million users. LinkedIn registered users to create a professional profile visible to others. Through the site, individuals can then maintain a list of known business contacts, known as Connections. LinkedIn users can also invite anyone to join their list of connections. The company also offers free advertiser-supported services, in addition to premium services which cost from $5 to $200 per month. Job listings on LinkedIn costs $95.

The company was founded in the Mountain View, California by Reid Hoffman, Jean-Luc Vaillant, Konstantin Guericke in 2002, and officially launched in May 2003. One of a handful of “social networking” companies in 2003 to get venture funding, LinkedIn operates under the notion that people want to keep their professional networking separate from their personal social behaviors.

Linkedin reached profitability in 2006 when it claimed 5 million visitors. The site grew to 85 million members in October of last year, and hit 90 million members when the company filed it’s S-1 to go public earlier this year. There were nearly two billion people searches on LinkedIn in 2010.

According to a recent article at Mashable, CEO Jeff Weiner claims that LinkedIn is now growing at a rate of one member per second, and ” is fundamentally transforming the way people work,” a resource that’s instrumental to professional networking online. In addition to Weiner, the company’s management team is comprised of executives from Yahoo!, Google, Microsoft, TiVo, PayPal and Electronic Arts.

LinkedIn’s site is currently used in over 200 countries and territories around the world, with more than half of LinkedIn’s users coming from outside of the U.S. (44 million in the U.S., 56 million outside of the U.S.) LinkedIn is currently available in six languages: English, French, German, Italian, Portuguese and Spanish. LinkedIn’s fastest-growing country is Brazil, with 428% growth year-over-year. Brazil is followed by Mexico (178% year-over-year), India and France.

Currently 17.8 million LinkedIn users are members of the network’s Groups and 1.2 million post comments to Groups weekly. There are now over 2 million company pages, with eBay, Amazon, Apple, Cisco, EMC and Campbells as the most represented companies on the network based on the number of employees that are on LinkedIn. There are now 1.3+ billion connections between LinkedIn’s members and 79+ million job transitions/changes tracked on the network. As of January 2011, LinkedIn counts executives from all 2010 Fortune 500 companies as members; its hiring solutions were used by 69 of the Fortune 100 companies as of December 31, 2010.

Currently Headquartered in Mountain View, LinkedIn also has U.S. offices in San Francisco, Chicago, New York and Omaha, Neb. International LinkedIn offices are located in Amsterdam, Dublin, London, Paris, Sydney, Toronto and Mumbai, India. LinkedIn started off 2011 with about 1,000 full-time employees located all around the globe, up from around 500 at the beginning of 2010. The Company’s valuation is estimated to be nearing 3 billion dollars.


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