LinkedIn tops 100 million members
The social-networking site plans a $175 million initial public offering this year. With video updates.
The site adds about 1 million members every week, the company said in a blog post. More than half of its members are outside the U.S., with the fastest growth coming from Brazil, Mexico, India and France.
Of all the major social-networking sites, LinkedIn is the one I use the least. But other people seem to like it. The company says nearly 1 million of its members are teachers, 1,030 are chocolatiers and 74 are "Elvis tribute artists."
Post continues after this video about LinkedIn and other networking sites:
LinkedIn is especially popular with employees of eBay (EBAY), Apple (AAPL), Cisco Systems (CSCO) and Amazon (AMZN), based on the percentage of those employees who logged on in 2011.
In its pre-IPO filings with regulators, LinkedIn said it brought in $161 million in revenue for the first nine months of 2010. That's double the $80.6 million in revenue it received during the same period in 2009. But profit for the first nine months of 2010 was only $10 million.
At least the company was profitable. In 2009, LinkedIn reported a $3.9 million net loss. The company had about $90 million in cash at the end of September.
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These companies won't soar like other plays in the sector, but they make for great income sources.
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