ABOUT LINKEDIN

LinkedIn is a business-oriented social networking site. Founded in December 2002 and launched in May 2003, it is mainly used for professional networking. As of October 2009[update], LinkedIn had more than 50 million registered users, spanning more than 200 countries and territories worldwide.

Company information

LinkedIn's CEO is Jeff Weiner, previously a Yahoo! Inc. executive.

Founder Reid Hoffman, previously CEO of LinkedIn and now executive vice president of PayPal, oversees day-to-day operations and is also Chairman of the Board. Dipchand Nishar is Vice President of Products. LinkedIn is headquartered in Mountain View, California, with offices in Omaha, Chicago, New York, and London. They are funded by Greylock, Sequoia Capital, Bessemer Venture Partners, and the European Founders Fund. LinkedIn reached profitability in March 2006.

On June 17, 2008, Sequoia Capital, Greylock Partners, and other venture capital firms purchased a 5% stake in the company for $53 million, giving the company a post-money valuation of approximately $1 billion.

Membership

LinkedIn has more than 50 million users worldwide, of which approximately half are in the United States. 11 million are from Europe. With 3 million users, India is the fastest-growing country as of 2009. The Netherlands has the highest adoption rate per capita, outside of the United States, at 30%.

Features

The purpose of the site is to allow registered users to maintain a list of contact details of people they know and trust in business. The people in the list are called Connections. Users can invite anyone (whether a site user or not) to become a connection.

This list of connections can then be used in a number of ways:
  • A contact network is built up consisting of their direct connections, the connections of each of their connections (termed second-degree connections) and also the connections of second-degree connections (termed third-degree connections). This can be used to gain an introduction to someone a person wishes to know through a mutual, trusted contact.
  • It can then be used to find jobs, people and business opportunities recommended by someone in one's contact network.
  • Employers can list jobs and search for potential candidates.
  • Job seekers can review the profile of hiring managers and discover which of their existing contacts can introduce them.


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