It’s now official – the professional social network, LinkedIn, has 100 million members around the world.
It’s good news for the company that has, interms at least, been a bit of a slow burner. However the momentum has picked up over the last year with over 10 million new members joining since October 2010. Comparatively LinkedIn is still an a minor player in social networking when compared to with over 500 million users and which now boasts a healthy 200 million.
None the less the figures come as good news for the company ahead of its proposed flotation on the markets. It still promises to be an uphill struggle for the company though as figures recently released show that although revenue doubled in the first 9 months of 2010 to $161 million, LinkedIn is still only just about profitable with a net income of only $1.8 million for the same period. Although conscious of the challenges that lie ahead, CEO, Jeff Weiner, is choosing to look on the bright side, for the time being at least, and celebrate reaching this landmark. As part of this celebration, LinkedIn has released its own infographic, breaking down the growth and the constitution of its overall membership. So if you’d like to know who uses the network and when, read on, some of it may surprise you.:
- LinkedIn is now established in 200 countries worldwide with 1 million new members joining each week – that’s 1 each second.
- The network’s quickest growth has been in Brazil, one of the world’s fastest growing economies, with 428% growth year on year. Mexico isn’t that far behind with growth listed at 178%, followed by India at 78%. The figures shouldn’t come as too much of a surprise as these are all emerging economies. What is surprising is that the next highest growth rate is in the established economy of France where the increase is 72%.
- The majority of LinkedIn’s growth is coming from outside the US. 56% of users are based in all corners of the globe, whereas there are currently only 44 million members in America.
- Almost 1 million of LinkedIn’s members are teachers, not businessmen. 20% of users work in the service sector. 9% of the users work in the finance sector and 9% in the high-tech industry. 74 of its members are Elvis tribute artists, and 1030 are chocolatiers.
- 17.8 million users are members of groups on LinkedIn with new members joining at a rate of 1.5 million each week. There are 1.2 million posts and comments to each of these groups each week. Unsurprisingly there’s only 1 member who confesses to investing in cheese.
- The majority of LinkedIn activity is centred round the working day with peak usage around lunchtime. Mobile usage tends to spike around 8.00p.m.
There’s no doubt that LinkedIn is the dominant force in professional social networking, and there’s little to suggest that it won’t remain at the forefront of this niche market.
However, profitability, or the lack of it is still an issue which will worry the markets. The estimated valuation of LinkedIn is thought to be around $3 billion dollars, but you do have to wonder how this might be affected should Facebook decide to broaden its horizons and establish its own ‘professional’ version of the service. If that should come to pass, then the future may not look quite so bright.