“Market Cap $22.66 B As of May 2014
At a Glance
- Industry: Computer Services
- Founded: 2002
- Country: United States
- CEO: Jeffrey Weiner
- Website: www.linkedin.com
- Employees: 5,045
- Sales: $1.53 B
- Headquarters: Mountain View, California
#1700 Global 2000
- #490 in Market value
LinkedIn Corp. is a professional network on the Internet focused on connecting the world’s professionals. The company’s proprietary platform enables members to create, manage and share their professional identity online, build and engage with their professional network, access shared knowledge and insights, and find business opportunities, enabling them to be more productive and successful. Its comprehensive platform provides members with solutions, including applications and tools, to search, connect and communicate with business contacts, learn about attractive career opportunities, join industry groups, research organizations and share information. The company was formerly known as LinkedIn Ltd. and changed its name to LinkedIn Corp. in January 2005. LinkedIn was founded by Allen Blue, Reid G. Hoffman, Jean-Luc Vaillant, Konstantin Guericke and Eric Ly in November 2002 and is headquartered in Mountain View, CA.“
LinkedIn’s CEO is Jeff Weiner, previously a Yahoo! Inc. executive. The company was founded by Reid Hoffman and founding team members from PayPal and Socialnet.com (Allen Blue, Eric Ly, Jean-Luc Vaillant, Lee Hower, Konstantin Guericke, Stephen Beitzel, David Eves, Ian McNish, Yan Pujante, and Chris Saccheri).
Founder Reid Hoffman, previously CEO of LinkedIn, is now Chairman of the Board. LinkedIn is headquartered in Mountain View, California, with offices in Omaha, Chicago, New York, London, and Dublin. It is funded by Sequoia Capital, Greylock, Bain Capital Ventures, Bessemer Venture Partners and the European Founders Fund. LinkedIn reached profitability in March 2006. Through January 2011, the company had received a total of $103 million of investment.
In late 2003, Sequoia Capital led the Series A investment in the company. In June 2008, Sequoia Capital, Greylock Partners, and otherventure capital firms purchased a 5% stake in the company for $53 million, giving the company a post-money valuation of approximately $1 billion.
In 2010, LinkedIn opened an International Headquarters in Dublin, Ireland, received a $20 million investment from Tiger Global Management LLC at a valuation of approximately $2 billion, and announced its first acquisition, Mspoke, and improved its 1% premium subscription ratio. In October of that year Silicon Valley Insider ranked the company No. 10 on its Top 100 List of most valuable start ups. By December, the company was valued at $1.575 billion in private markets.
LinkedIn filed for an initial public offering in January 2011 and traded its first shares on May 19, 2011, under the NYSE symbol “LNKD”, price of IPO was $45 per share. Shares of LinkedIn, which rose as much as 171 percent in their first day of trade on the New York Stock Exchange, closed at $94.25, more than 109 percent above IPO price. Shortly after the IPO, the site’s underlying infrastructure was revised to allow accelerated revision-release cycles.
In 2011, LinkedIn earned $154.6 million in advertising revenue alone, surpassing Twitter, which earned $139.5 million. LinkedIn’s fourth-quarter 2011 earnings soared due to the company’s increase in success in the social media world.
In the spring of 2012, LinkedIn leased 57,120 square feet on three floors of the One Montgomery Tower building in the Financial District of San Francisco, expanded to 135,000 square feet by 2014. In May 2012, LinkedIn announced its 2012 Q1 revenues were up 101% to $188.5 million compared to $93.9 million in Q1 of 2011, with net income increasing 140% over Q1 of 2011 to $5 million. Revenue for Q2 was estimated to be between $210 to $215 million.
In June of 2012 cryptographic hashes of approximately 6.4 million LinkedIn user passwords were stolen by hackers who then published the stolen hashes online. This action is known as the 2012 LinkedIn hack. In response to the incident, LinkedIn asked its users to change their passwords. Security experts criticized LinkedIn for not salting their password file, and instead using a single iteration of SHA-1.
In November of 2012, LinkedIn released their third quarter earnings, reporting earnings-per-share of $0.22 on revenue of $252 million. As a result of these numbers, LinkedIn’s stock increased in value, trading at roughly $112 a share.
In April of 2014 it was announced that LinkedIn had leased 222 Second Street, a 26-story building under construction in San Francisco’s SoMa district, to accommodate up to 2,500 of its employees.”
*Information from Forbes.com and Wikipedia.org
**Video published on youtube.com by “Corporate Valley“