LinkedIn announced that due to the rapid adoption of its premium services, the company expects to reach profitability this month. LinkedIn's premium accounts were introduced seven months ago and are priced between $60 and $2,000 per year. LinkedIn's emphasis for the next six to nine months will be to broaden the utility of its offerings that are free to all members. The most active members are those who frequently need to contact professionals as part of their job: recruiters, analysts, researchers, investment professionals, entrepreneurs and management consultants. Hiring managers and job seekers search on LinkedIn when they need to identify top recruits or inside connections to employers. Relationships matter to professionals across all industries and functions, and LinkedIn's product initiatives for 2006 aim to make LinkedIn a useful business web site for millions of professionals world-wide. LinkedIn launched new features to help members connect with past employees and classmates. Success in business is not only based on what or who you know, but who your contacts know. LinkedIn is developing matching technology to identify contacts for members among the people their connections know. This matching takes into account the individual career history of members, as well as future career progression based on the aggregate data of LinkedIn profiles created by over five million professionals. In 2006, people search is expected to become another major vertical in the Internet search category. LinkedIn members see shared professional connections and can get in touch with the people they find via introductions from people they already know. LinkedIn is committed to making people search smart and easy. Members can create search agents that notify them of new members who match their criteria. Job seekers routinely look up the profiles of employees who will be interviewing them. When it comes to career success, degrees of separation can be more important than academic degrees.
"Our investors are interested in driving the growth of the company. Our next goal is reaching the 10 million user mark. You just focus on your business, and how the company is funded is a secondary concern."
LinkedIn is employs 50 employees and will grow its staff based on increased revenue from premium accounts, job listings and advertising. It took LinkedIn three years to gain five million members. LinkedIn is the world's largest and most effective business network. On LinkedIn, more than five million professionals find jobs, people and service providers through their existing network of business relationships. LinkedIn's membership is diverse: 1.8 million members are in Europe and over half a million in Asia. Personal LinkedIn accounts are free, but LinkedIn earns revenue through a number of premium services. Hiring managers posting jobs on LinkedIn Jobs
receive candidates recommended by fellow employees or other trusted contacts. More than 300,000 service providers listed in the LinkedIn Services B2B directory
have an opportunity to be at the top of the search results when contacts of their former clients search for recommended service providers. More than 1,200 membership organizations use LinkedIn for Groups
to strengthen connections between members and develop greater loyalty to the organization. LinkedIn Business and Pro Accounts
enable recruiters and researchers to find people beyond their networks and get in touch with job candidates and experts more quickly and efficiently.Show and tell onlin
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