Business networking site LinkedIn claims to have crossed the 30 million users mark in India. LinkedIn stated that it has added more members to its editorial team in India and will focus on growing its user base in India and possibly collaborate with companies who work in skill development among others.
It also counts Prime Minister Narendra Modi (gasp!) and executives such as Kiran Mazumdar-Shaw CMD, Biocon, Swati Piramal VC, Piramal Enterprises, Ronnie Screwvala Founder of UTV Group and Nandan Nilkeni, Former Chairman, Unique Identification Authority of India among Indian user base.
Users and revenues
Earlier this week, LinkedIn reported that it was seeing 97 million average unique monthly visiting members for the first quarter of 2015. This figure was up 4.3% from 93 million in the previous quarter and up 18.3% from 82 million in the same quarter last year. In April last year, the company claimed to have crossed 300 million registered users, up from 276.8 million users on December 31, 2013, indicating that the company has added around 23.2 million users in about four months.
LinkedIn’s revenues from Asia Pacific (APAC) region were at $54 million for Q1 2015, up 38.5% from $35 million in the same quarter last year. APAC Region currently represents only 8.5% of LinkedIn’s total revenues for the quarter, which was at $638 million for the quarter, up 34.9% year-on-year (YoY).
LinkedIn’s recent acquisitions
Last month, LinkedIn acquired online tutorials and training platform Lynda.com for $1.5 billion. The acquisition is expected to close by Q2 this year and is a combination of ~52% cash and ~48% stock. Most of Lynda’s team members are expected to join LinkedIn with the latter’s belief that that Lynda.com will help both its users and professionals to accelerate their careers.
In the same month, it also acquired a startup called Refresh, which offers information about the people you’re meeting in a professional setup. It is essentially a digital briefing book. The company did not disclose the deal value, however this appears to be an acqui-hire with 12 of Refresh’s current team of 15 expected to join LinkedIn.
Image Credit: Flickr user Nam Palmero