LinkedIn is the world’s largest professional networking site that brings together more than 700,000,000 people across 200 countries. The platform that runs on sites and mobile applications allows job seekers to post their resumes and work experiences to be noticed by employers looking for such skilled individuals. The company was formed in 2002 and launched in 2003.
Social networking has been a big business and opportunity opened up by the internet. This space has allowed LinkedIn users to network regardless of country of origin. The opportunities presented are endless and keep expanding. For instance, LinkedIn now offers sort courses and certifications on the platform that boosts people’s employability and works as a revenue source for the entity.
The company was founded by Reid Hoffman in 2002 and later on in 2016, Microsoft bought the company at $196 per share. Since then, LinkedIn has been a subsidiary of Microsoft. This purchase was valued at $26.2 billion.
LinkedIn has evolved over the years since its inception to include more services and means of generating income. One of these ways is by offering premium services that can only be accessed upon paying a stipulated subscription feature. The features in the premium package are often attractive to job seekers who look for greater insights and for employers who need a better terrain look as they make recruitment.
The packages offered are the Premium Career at $29.99/month, Premium Business at $59.99/month, Sales Navigator Pro at $79.99/month, and Recruiter Lite for Hiring at $119.95/month.
Additionally, LinkedIn offers certifications and courses that one can take online and improve their job-readiness skills. Some are offered for free especially the introductory ones after which one will be required to pay for higher-level certifications.
LinkedIn also makes money by selling access to information on their members to sales professionals and recruiters. This is the company’s main stream of revenue generation that remains unrivaled in terms of income generated.
The company’s largest shareholder is its founder and chairman Reid Hoffman and his wife Michelle Yee who own 21.4% of the company. Early investors in the company follow closely – Sequoia Capital, Greylock Partners, and Bessemer Venture Partners. More LinkedIn shareholders include Jef Weiner, Sordello Steven, and Deep Nishar.