LinkedIn is an example of focusing on a specific target market and providing specialized service. In so doing, it becomes a game changing business.
But the real story is the huge jump in revenues from LinkedIn’s recruiting services (“Hiring Solutions”). Revenues in this segment grew by 136% to $84.9 Million, making the company the fastest growing public provider of corporate recruiting solutions.
Even though LinkedIn’s original vision was to become a professional social network to bring people together, it has become “the place” for professionals to network, look for jobs, and “be found” by employers.
LinkedIn is not Facebook. This is a company with a very different business model, personality, and focus. While we know that LinkedIn does live and die by the size of its membership, the company is now becoming very focused and educated about the needs of corporate recruiters and talent management professionals.