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Sunday, March 29, 2009

Need A Job? Get LinkedIn.

People continue to find new and innovative ways to find employment. With more and more job seekers on the prowl, LinkedIn's traffic has doubled and its multiple revenue streams have turned into profit.

CNNMoney reports that LinkedIn in is giving Facebook and Twitter a run for the money. The professional social networking site LinkedIn, where activity from Lehman Brothers employees and ex-workers spiked 315% from August to September of last year, when the bank was going through bankruptcy proceedings. LinkedIn's fastest growing region? Detroit.

Unlike job seekers (and those fearing unemployment) that roll its jobs boards, LinkedIn is thriving in the recession: Overall, traffic has more than doubled to 6.9 million users in February from 3.3 million a year earlier.

For a short time it seemed LinkedIn's best days were behind it. After a big initial splash, especially with the professional set, LinkedIn seemed to lose buzz to fresher, jazzier sites such as Facebook, which has started to gain traction among Baby Boomers. (Facebook today has 175 million plus members). But it has something the the Facebooks and Twitters of the world do not: profits. For the best past two years, it has been in the black, according to remarks that founder Reid Hoffman made at the World economic Forum in Davos last January. With a billion dollar valuation, the company has raised close to $100 million so far. Hoffman told TechCrunch's Michael Arrington most of that cash has not yet been spent. "we can go public anytime we want to," he said.

LinkedIn has never billed itself as a place friends go to connect. It's about professional presentation. And with one member signing up for the site every second, it's growing increasingly useful to employers and employees alike.

In my own experience networking is the name of the game in business and LinkedIn is a great way to get started.

1 comment:

John Sholtz said...

Thank for the compliment. Please continue to follow along and let us hear from you. We love to share everyone's point of view.

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