LinkedIn is the classier version of Facebook. There are no chain letters to send to “friends” you haven’t spoken to in years, and there’s no thread to talk about the latest episode of The Bachelor. Your profile is a digital resume that links you to your next job venture. LinkedIn has over 100 million users connecting corporate entities to talented individuals.
Founded by Reid Hoffman, the site reached that number of viewers in 2004. The mobile accessibility granted access to users on the go in 2008. This all lead to the Microsoft buyout in February 2016 for $26.2 billion.
Here’s how this career-savvy social networking site makes its profits.
Show Uo With Your Game Face On
We, the talent, contribute to the majority of the profits. Most importantly, this includes the recruitment tool for companies to link up with viable candidates. Here, you can find LinkedIn recruiter, Job Slots, Recruitment Media, Career Pages, and Work With Us Ads. Believe it or not, but more people using LinkedIn are not looking for jobs. This is the one outlet for search and recruitment that catapults users to promote their name or brand.
Get Your Name Out There!
Marketing Solutions contribute to less than a quarter of business profit. This tab is beneficial for a company to build a profile, and also to promote it.
If You Want More, You Have To Pay
If you want to step out of the other 100 million users spotlights, you are going to have to pay. Monthly subscriptions accommodate each user, and over the years, these options have expanded:
Back in 2008, LinkedIn launched its model of social networking among businesses and professionals. Following in 2013, they unveiled their Sponsored Updates Ad Service, allowing users to promote their content throughout the site.
By acquiring other businesses under their umbrella; LinkedIn has been able to expand. Here are just a few:
Other examples include FlipTop, a marketing team that uses science for companies to close sales, Lynda.com, a website that showcases video on learning new software and technology via videos recorded by professionals, and Bizo, a site that helps advertisers connect with businesses.
Michael Holland, chairman, and founder of New York, N.Y.-based investment firm Holland & Co, said:
“LinkedIn may well have a better chance than the others at showing staying power in the marketplace. Facebook and Twitter get a lot more media time than LinkedIn, but LinkedIn is unique in that it actually serves a greater purpose. It has the potential to help young people with their careers and enables them to live better lives, so it has a hook for them. Facebook and Twitter can seem a little frivolous by comparison.”