NEWS: LinkedIn sees 47% revenue increase
LinkedIn's revenue for the fourth quarter of 2013 reached $447.2 million, an increase of 47 per cent on its 2012 figures.
The professional network’s net income for the fourth quarter was $3.8 million, compared to $11.5 million for the fourth quarter of 2012.
Its largest revenue came from LinkedIn's Talent Solutions products, which totalled $245.6 million, an increase of 53 per cent compared to the fourth quarter of 2012.
Meanwhile, revenue from Marketing Solutions products totalled $113.5 million, an increase of 36 per cent compared to the fourth quarter of 2012.
Premium Subscriptions made up 20 per cent of LinkedIn’s total revenue. Revenue from Premium Subscriptions products totalled $88.1 million, an increase of 48 per cent compared to the fourth quarter of 2012.
The social network also has revealed it is planning to acquire data driven job search start-up Bright for £120 million. This will be LinkedIn’s most expensive purchase to date.
Parker Barille, VP product at LinkedIn, made the announcement on the network’s blog: ‘At LinkedIn, we’ve invested a lot of time and energy into developing products like “jobs you may be interested in” and LinkedIn Recruiter that use data to match members with the right opportunities and employers with the right prospects at scale. And that’s why Bright is such a great fit. Its incredibly talented team takes the same data-driven approach to connecting people and employers, and has built a powerful matching technology that will help accelerate our efforts on multiple fronts.’