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Computer ServicesUnited States of America (USA)
July 19, 2013
Modified date: February 29, 2024
LINKEDIN
By Companies History
85
LINKEDIN CORP. HISTORY, PROFILE AND HISTORY VIDEO
LinkedIn Corp. is a professional network on the Internet focused on connecting
the world’s professionals. The company’s proprietary platform enables members to
create, manage and share their professional identity online, build and engage
with their professional network, access shared knowledge and insights, and find
business opportunities, enabling them to be more productive and successful. Its
comprehensive platform provides members with solutions, including applications
and tools, to search, connect and communicate with business contacts, learn
about attractive career opportunities, join industry groups, research
organizations and share information. The company was formerly known as LinkedIn
Ltd. and changed its name to LinkedIn Corp. in January 2005. LinkedIn was
founded by Allen Blue, Reid G. Hoffman, Jean-Luc Vaillant, Konstantin Guericke
and Eric Ly in November 2002 and is headquartered in Mountain View, CA.“
“LINKEDIN HISTORY
LinkedIn’s CEO is Jeff Weiner, previously a Yahoo! Inc. executive. The company
was founded by Reid Hoffman and founding team members from PayPal and
Socialnet.com (Allen Blue, Eric Ly, Jean-Luc Vaillant, Lee Hower, Konstantin
Guericke, Stephen Beitzel, David Eves, Ian McNish, Yan Pujante, and Chris
Saccheri).
Founder Reid Hoffman, previously CEO of LinkedIn, is now Chairman of the
Board. LinkedIn is headquartered in Mountain View, California, with offices
in Omaha, Chicago, New York, London, and Dublin. It is funded by Sequoia
Capital, Greylock, Bain Capital Ventures, Bessemer Venture Partners and the
European Founders Fund. LinkedIn reached profitability in March 2006. Through
January 2011, the company had received a total of $103 million of investment.
In late 2003, Sequoia Capital led the Series A investment in the company. In
June 2008, Sequoia Capital, Greylock Partners, and otherventure capital firms
purchased a 5% stake in the company for $53 million, giving the company
a post-money valuation of approximately $1 billion.
In 2010, LinkedIn opened an International Headquarters in Dublin,
Ireland, received a $20 million investment from Tiger Global Management LLC at a
valuation of approximately $2 billion, and announced its first acquisition,
Mspoke, and improved its 1% premium subscription ratio. In October of that year
Silicon Valley Insider ranked the company No. 10 on its Top 100 List of most
valuable start ups. By December, the company was valued at $1.575 billion in
private markets.
2011: IPO
LinkedIn filed for an initial public offering in January 2011 and traded its
first shares on May 19, 2011, under the NYSE symbol “LNKD”, price of IPO was $45
per share. Shares of LinkedIn, which rose as much as 171 percent in their first
day of trade on the New York Stock Exchange, closed at $94.25, more than 109
percent above IPO price. Shortly after the IPO, the site’s
underlying infrastructure was revised to allow accelerated revision-release
cycles.
In 2011, LinkedIn earned $154.6 million in advertising revenue alone,
surpassing Twitter, which earned $139.5 million. LinkedIn’s fourth-quarter 2011
earnings soared due to the company’s increase in success in the social media
world.
In the spring of 2012, LinkedIn leased 57,120 square feet on three floors of
the One Montgomery Tower building in the Financial District of San Francisco,
expanded to 135,000 square feet by 2014. In May 2012, LinkedIn announced its
2012 Q1 revenues were up 101% to $188.5 million compared to $93.9 million in Q1
of 2011, with net income increasing 140% over Q1 of 2011 to $5 million. Revenue
for Q2 was estimated to be between $210 to $215 million.
In June of 2012 cryptographic hashes of approximately 6.4 million LinkedIn user
passwords were stolen by hackers who then published the stolen hashes
online. This action is known as the 2012 LinkedIn hack. In response to the
incident, LinkedIn asked its users to change their passwords. Security experts
criticized LinkedIn for not salting their password file, and instead using a
single iteration of SHA-1.
In November of 2012, LinkedIn released their third quarter earnings, reporting
earnings-per-share of $0.22 on revenue of $252 million. As a result of these
numbers, LinkedIn’s stock increased in value, trading at roughly $112 a share.
- Advertisement -
In April of 2014 it was announced that LinkedIn had leased 222 Second Street, a
26-story building under construction in San Francisco’s SoMa district, to
accommodate up to 2,500 of its employees.”
*Information from Forbes.com and Wikipedia.org
**Video published on youtube.com by “Corporate Valley“
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