Business and career-oriented social network LinkedIn has passed the 400m-member milestone. The company has reported fourth quarter revenues of $780m, sending shares surging by 9pc.
This is a 37pc leap on last year’s fourth-quarter revenues of $568m and it includes $41m in revenue from its Learning & Development group, which includes Lynda.com, which it acquired last year.
LinkedIn’s hiring division contributed $461m in revenue, up 34pc year-over-year.
Marketing Solutions revenue grew 28pc to $140m while Premium Subscriptions grew 21pc to $138m.
Adjusted EBITDA was $208m, or 27pc of revenue
“LinkedIn delivered strong results in the third quarter, and recently announced several products focused on delivering increased member and customer value,” said Jeff Weiner, CEO of LinkedIn.
“Our commitment to investing in our long-term roadmap continues to lay the foundation for future growth of the company.”
LinkedIn plans to build world’s first economic graph
In a blog post, LinkedIn revealed it has surpassed 400m users. It said that to realise its vision of creating economic opportunities for the 3.3bn strong global workforce it is creating the world’s first economic graph by digitally mapping the global economy.
The graph aims to identify the connections between people, jobs, companies, skills, schools and knowledge.
It also revealed that more than 1m members have published long-form posts and 19.7m-plus SlideShareshave been uploaded.
Some 40pc of LinkedIn members are using mobile to look for new jobs, it revealed.
LinkedIn mobile image via GongTo/Shutterstock