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LinkedIn Corp., a business-networking Web site, has received a $53 million infusion from blue-chip venture capitalists that values the company at $1 billion.LinkedIn Boosted By $53 Million Investment [online.wsj.com]
The investment comes as rival Facebook Inc., a site that originally targeted college students, has been attracting older users, leading to speculation that Facebook -- like LinkedIn -- could become a destination for professionals hoping to make new contacts, recruit employees or find experts in certain fields.
LinkedIn was the pioneer in that concept. The Mountain View, Calif., company has more than 23 million users and added 250 new employees in the last 16 months. It drew ...
I'm likely just showing my own ignorance.
On the other hand, I've had anecdotal feedback of job recruiting successes on LI. And I've made a few one-step introductions (introducing two people I know who didn't know each other).
Asking questions (and broadcasting them) has also produced a few useful contacts.
I would maybe pay a small amount for a subscription if went down that route. But unless they get way into recruitment I cannot see how it can be valued at 1 billion...?
I think if LinkedIn has a chance to fend off Facebook, it will be their lack of "noise." With all of the features and apps on FB, most communications I get don't seem relevant to business - even when coming from contacts I know via business.
Then again, maybe living in FB makes for a richer business relationship. Instead of just being about business, I now know that my attorney had a great time in Cozumel last week and that my top business prospect just finished washing his car. :)
My personal opinion:
I don't think facebook should be a place for professionals to recruit. I like that it's a social environment, and not a professional one, which makes me want a professional social environment. I want to post pictures of me having drinks while wearing the chicken suit and doing morally ambiguous things without worry that a potential employer will judge my professional abilities on my social activities.
I guess its time to start my own company then if this is the way the professional environment is moving towards.
It makes for a great way to stay in touch with colleagues, research candidates, and connect with old classmates and friends - all in a professional context...
That's a key issue, pb. In less tech-oriented areas, I see a lot lower penetration. But I'm also seeing incremental growth - one person in a company gets on, and then invites a bunch of contacts inside and outside the firm. The networks in the hinterlands are still kind of thin, but they are growing.