It’s taken a little over a year for professional networking site LinkedIn to double its registered user base in India: the company, which has announced hitting the 10 million mark today, had been at 5 million in May 2010, and 3.4 million when Hari V. Krishnan had joined the company from MySpace India in November 2009.
The 10 million milestone is a significant one: it indicates that there is, in a sense, a resume database – albeit open – of professionals on LinkedIn who can be targeted for recruitment; in comparison, Info Edge owned Naukri.com had 25 million resumes, and its professional networking site Brijj had 4 million users at the end of March 2011. LinkedIn has a job search section, company pages, and is expected to launch a Job application tool, allowing users to send in their LinkedIn profiles as resumes. Often, business is as much about who you know as it is about what you know, so a list of connections, as well as profile recommendations, offer more information to recruiters than just a resume. The other concern is that senior executives might be reticent about publishing their resumes on Job sites, opening themselves to unsolicited and unrelated recruitment offers from recruiters who buy database access and then mass mail. The question remains, however, whether LinkedIn is capable of facilitating mass hiring like Job boards are.
Eventually, this is about sales: Info Edge is believed to have over a thousand people doing sales across India, and for the full year ended March 31st 2011, it had around 42,000 unique customers. LinkedIn might be growing in numbers when it comes to registered users, but it will have to beef up sales to make a dent in Info Edge and Monster India’s marketshare. LinkedIn has offices in Gurgaon and Bengaluru (where most of the potential IT clients are likely to be based), and claims that ING Vysya Bank, Genpact and HCL have used its recruitment solutions.
Info Edge doesn’t appear to be too worried about LinkedIn yet – at least, that is what it appears from its earnings conference call, where they are asked about LinkedIn often – but it should be vary of LinkedIn’s growing, connected database.
What do you think – should job portals worry?
As an aside, some mostly-pointless stats released by LinkedIn about its India users:
– Top 10 surnames on LinkedIn include are Kumar, Singh, Sharma, Gupta, Jain, Shah, Patel, Mishra, Reddy and Yadav
– Top 10 industries on LinkedIn are Information Technology and Services, Computer Software, Telecommunications, Financial Services, Education Management, Banking, Automotive, Pharmaceuticals, Electronics and Accounting
– 16105 professionals listed the term ‘social media’ in their profiles
– 19027 people in Indian listed ‘bollywood’, ‘hollywood’ or ‘film’ in their LinkedIn profile
– 762 Indian professionals listed ‘yoga’ and 2587 professionals listed ‘ayurveda’ in their job title
– 4% of members in India put the word ‘owner’ in their title