• LinkedIn Posts $243M In 2010 Revenue, $15.4 Million In Net Income

    Friday, March 11th, 2011

    Leena Rao currently works as a writer for TechCrunch. She recently finished graduate school at the Medill School of Journalism at Northwestern University, where she studied business journalism and videography. From 2004 to 2007, she helped lead Congresswoman Carloyn Maloney’s community outreach and relations efforts in New York City. She graduated from Columbia University in 2003, where she was... → Learn More

    Professional social network LinkedIn, which originally submitted its S-1 filing with the SEC in January, has just posted an amendment to its filing that includes 2010 revenue numbers (previously the filing only included 2010 revenue until September). As we wrote earlier, the maximum proposed total offering price is $175 million but this is just a placeholder amount.

    From 2009 to 2010, net revenue increased $123.0 million, or 102%, to $243 million. Net income increased $19.4 million, or 487%, to $15.4 million. The company took a $3.9 million loss in 2009 terms of net income, with 2010 as the first profitable year for the network.

    According to the filing, 42 percent of 2010 revenue came hiring solutions ($101.8 million), 33 percent came from marketing ($79.3 million); and 25 percent came from premium subscriptions ($61.9 million).

    It’s a positive sign that revenue sources continue to increase and the company is now making a profit. It should be interesting to see how much the offering will be when LinkedIn goes public later this year.

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