LinkedIn, the professional social network, says it now has 100 million members around the world. That's a threshold passed long ago by Facebook, which has over 500 million members, and Twitter, which has just hit the 200 million mark. But LinkedIn has an IPO prepared, and the news could help the launch.
The CEO of LinkedIn, Jeff Weiner, wrote in a blog, that the company is adding one million members a week -- or about one a second. The company says it now has members in 200 countries and territories. LinkedIn considers itself a site where members share professional data with one another. This contrasts to Facebook, where people tend to share more personal aspects of their lives.
The LinkedIn IPO still has some speed bumps ahead of it. According to the S-1 the company filed with the SEC, company revenue doubled in the first nine months of last year to $161 million. But LinkedIn is barely profitable -- with net income of $1.8 million for the same nine-month period. In the risks section of the S-1, LinkedIn said its revenue growth rate may decline and increased investments could drive the firm back to a loss.
The real challenge to LinkedIn may be Facebook. The largest social network has not yet started a "professional" version -- but it could. LinkedIn's business model could easily be copied by a larger company.