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LinkedIn Powers Past 200 Million Users Worldwide
We haven’t talked about LinkedIn in a while but that doesn’t mean the world’s largest professional social network hasn’t been busy. In the last few months the company has seen massive growth and we can now tell you that worldwide there are a whopping 200 million+ users and counting.
But the true pace of growth hasn’t been revealed about LinkedIn until now. The social network in its official announcement about surpassing the 200 million user mark also dropped some insight on how fast its adding users. According to LinkedIn two new users are added every second; put in perspective it means that a whopping 172,800 users are being added each day. Since November 1, 2012 the professional social network has added a staggering 13 million new members.
No time wasters here
The rate of growth on LinkedIn is significant for several reasons, not least of which is the wealth demographic that uses the platform. The site is most popular in America where the average user earns around $110,000 a year and spends heavily on business-related products and services. Since going public, LinkedIn has aggressively scaled its ad services, allowing brands to tap into this wealthy audience. Deep Nishar, LinkedIn’s senior VP of products and user experience, summed up the changes by saying that the 200 million user mark is an “important and exciting milestone.”
There are an estimated 74 million users in the U.S. but LinkedIn is growing fast in other parts of the world. The social network is becoming very popular in India where 18 million users have already signed up; India represents the second largest user base behind the U.S. and LinkedIn has shown keen interest in making the best of this level of interest from the sub-continent.
The UK and Brazil follows closely behind India with 11 million active users each. Both countries are followed by Brazil which has 7 million users and counting.
Shareholders of course will be very happy with the rate of growth and the money that has come as a result of it. Q3 revenues are up 81% year-over-year and the prospects for the rest of the year looks good.
There’s perhaps no secret sauce when it comes to analyzing LinkedIn’s growth except to say that business people (which users on the platform essentially are) tend to be more serious about their involvement in social media. The fact that LinkedIn has managed to race to 200 million users, while retaining the quality of its users, is a testament to a sound growth strategy more than anything else. Whilst platforms like Twitter and Facebook target all and sundry, LinkedIn’s vision has stuck to quality over quantity. In the end it may end being worth more on this basis alone.
The next few years will be key though. LinkedIn will need to break into the 500 million mark and do so without losing much of its current shape. Competitors are lining up at the gate and only constant growth and innovation can help LinkedIn retain its competitive edge.
Do you think LinkedIn will be worth more than Twitter in another few years? Share your thoughts below.