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.
With over 100 million users representing over 200 countries around the world, LinkedIn is a fast-growing professional networking site that allows members to create business contacts, search for jobs, and find potential clients. Individuals have the ability to create their own professional profile that can be viewed by others in their network, and also view the profiles of their own contacts. Competitors to LinkedIn include sites such as XING, Doostang and Ecademy. Of note, LinkedIn won...