LinkedIn is a social networking site particularly for the job seekers and recruiters, with up to 467 million users. LinkedIn is the most popular choice for posting jobs by the recruiters and for building contacts.
LinkedIn was launched in 2003 by Reid Hoffman with the help of his colleagues. The founder, Reid Hoffman was a former employee of Apple. In 1993, he founded his own first company, Socialnet. The website was a dating site and was great success with a million users. However, this did not stop Reid Hoffman from learning and he left his website to join as an Executive Vice President for PayPal. The reason was to learn and understand the technicalities involved in online business to originate a successful venture.
LinkedIn did not gain success in the first year of its launch but after a year later, Sequoia Capital invested $3 million in the company. This transformed and introduced many features on the website which included jobs, advertising groups, address book and recommendations. American Express became its partner for advertising SMEs. The company started making high revenues from 2006.
In 2007, Dan Nye took over as the CEO of LinkedIn. The website version of French and Spanish were developed later that year. Also, LinkedIn’s regional office was opened up in London. In 2009, Jeff Weiner became the new CEO. The additional features LinkedIn embarked were of Recruiter and LinkedIn Answers in 2010.
2011 witnessed the further success of the website. The company went public in the first half of the year with a share price of $45. Additional native languages were also added. Regional offices in different parts of the world including Paris, Tokyo, Milan, Sao Paulo and others were opened. This year also marked the addition of feature of directly applying by LinkedIn was introduced. Highlights of 2012 included a brand new visual architecture.
Current status of LinkedIn is associated with a successful website with tremendous features that helps its millions of users in building up their career.