How Much Time Do You Spend on Social Networks? Your LinkedIn Stock Just Doubled-Don’t You Wish Your Connections Did? 5/22/11
From Mashable.com on Thursday: “LinkedIn announced its intention to file for an IPO in January. At the time, the company was valued at $2.51 billion based on shares traded on secondary market SharesPost.
The eight-year-old company hit the 100 million user mark in March and became profitable in 2010 with a net income of $10.1 million and net revenues of $161.4 million in the first nine months of 2010. In Q1, LinkedIn’s revenues hit $93.9 million, a 110% increase from the year-ago period. Net income was $2 million, compared to $1.8 million in Q1 2010.
LinkedIn is the first of a slew of anticipated social media IPOs set for the next year or so. Others include Facebook, Zynga, Groupon, Pandora, Kayak, Yelp, Rovio and Zillow. Renren, billed as the “Facebook of China,” went public this month and raised $743.4 million.”
Myspace is one of the older and well known social networks and has struggled to re-invent itself. It will be interesting to see how things play out in the Web 2.0 industry and where we are headed with mobile social networking. Let us know your thoughts. Leave a comment below. Will you spend more time on LinkedIn now or will LinkedIn going public not change the way you do things?
I will continue to use LinkedIn weekly as before, but honestly-I spend 7 days per week on Twitter, Facebook and YouTube and only one day per week on LinkedIn.
Follow my LinkedIn list on Twitter here is 164 people strong. I have 668 connections on LinkedIn and 164 of my connections are also Twitter so I made it easy for you just click the link and follow the list. LinkedIn is very business professional and Twitter is a great way for me to index, list, and favorite my favorite connections and get work done quickly.
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