Linkedin - a new web phenomenon
Founded in December 2002 and launched in May 2003, LinkedIn is a business-related social networking site which is mainly used for professional networking. As of 22 March 2011, LinkedIn has reported more than 100 million registered users, spanning more than 200 countries and territories worldwide. The site is available in English, French, German, Italian, Portuguese, Spanish, Romanian, Russian and Turkish and is reported to have 47.6 million users globally.
It has also been claimed that this social giant, if given the status of a country, would be the 12th largest by population. In 2010, there were some 2 billion people searches on LinkedIn, which indicates how the site is taking care of not only job seekers but also the growth of businesses.
With the initial basic step of making a profile, just like any other social media website, LinkedIn leads the way. Apart from common job searches, users are able to update themselves with fresh angles as they can take note of the growing or declining skill sets mentioned in LinkedIn profiles of various professionals. Moreover, professionals can join groups of their relevant fields, ranging from broad industry groups to special-interest groups. For e. g. in Journalism, a reporter named Paul Dixon started the Media Diplomat group on LinkedIn, aimed at helping reporters connect with international sources.
There are some ways organizations can benefit from LinkedIn such as the application of group, events and company profiles. LinkedIn groups function as a forum for members to have real-world conversations about products, issues, opportunities, events, and referrals of information while LinkedIn Events correspond to real events, such as tradeshows, conferences, and training sessions. This emerging segment will become a mechanism for events to be accessible to networks of members where professional interests align. Another is LinkedIn Company profiles, where companies efficiently maintain their description, supporting information and company logos, in order to facilitate networking as well as branding.
In addition, potential investors and sponsors seek the number of connects a person or company maintains at LinkedIn for credibility assurance. For this very reason, many publishers look at the LinkedIn connects to see the number of readers who follow a certain author.
In order to establish that the site is no random internet folly, LinkedIn has acquired mSpoke, a company which made RSS, a filtering tool. mSpoke has provided LinkedIn its recommendation technology which is used to present LinkedIn users with relevant content, such as personalized news and other updates and what executives in similar careers are reading and doing on the network.
Every once in a while, a company emerges that transforms an industry in such a way that investors have difficulty grasping just how big it may become one day. Analysts believe LinkedIn could be one such venture