LinkedIn Revenue: $32 Million Pulled In For 2010

LinkedIn has been getting some coverage from us of late, we have reported on its new features, how it is worth almost $3 billion and also how it has been used as part of social media that has changed the face of recruitment.

LinkedIn certainly understand their social business communities and as they have managed to rake in an astonishing £32 million just from advertising in the first 9 months of 2010. This means it has more than doubled when compared to last year’s £15 million.

Of course, being the social network for professionals, their main source of income is through recruitment. According to iabuk.net, LinkedIn has seen a 100% increase in net revenue to an astonishing £101.7 million.

As thespec.com say in their article, LinkedIn is growing quickly and it has quite a few different streams of revenue that flow into it. This means that it has a massive potential to become as big as some of the other social networking sites. The problem comes if it starts to not be what it set out as and that is a social network for professionals.

Are you surprised at LinkedIn’s growth and additional revenue? Can LinkedIn continue to grow and pull in even more revenue? Let us know your thoughts in the comments below.