Monday, 10 February 2014 21:29

LinkedIn looking for new sources of funding

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LinkedIn has announced that they expects the revenue of the first quarter of this year to be at the level of $460 million, not $469 million as it was previously forecasted. Although a decline of 2%, the company's shares on the stock market sank by 15% after the announcement of these news.


One reason for this is the fact that this will be the fourth consecutive quarter in which LinkedIn will have a fall in revenue. Since this is a negative forecast, which comes just a day after a similar announcement from Twitter, investors have apparently lost confidence in this part of the social networking. The Director of LinkedIn Jeff Weiner said that the company is looking for new sources of funding, and to actively and intensively invests in long-term initiatives that should expand their services.

One of the plans is the further development of mobile application, since LinkedIn currently generates about a quarter of the traffic from the mobile platforms, while Facebook has already exceeded 50%. Among other possible scenarios they mentioned breakthrough to the Chinese market, as well as the implementation of algorithms for connecting employers and job seekers. For that purpose, they purchased the analytical company Bright Media last week for $120 million.

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Read 2642 times Last modified on Monday, 10 February 2014 21:31

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