LinkedIn

Professional networking site LinkedIn has reported 97 million average unique monthly visiting members for the quarter ended March 31, 2015, up 4.3% from 93 million in the previous quarter and up 18.3% from 82 million in the same quarter last year.

Of this, mobile unique visiting members was at 49 million for the quarter, up 8.9% from 45 million in the previous quarter and up 40% from 35 million in the same quarter last year. Mobile accounted for 50.5% of LinkedIn’s total unique visiting members for the quarter, as compared to 48.3% in the previous quarter and 42.7% in the same quarter last year.

Note that LinkedIn transitioned to internal measure of unique visiting members, mobile unique visiting members and member page views from comScore data in Q2 2014.

Registered members: LinkedIn’s registered member base was at 364 million for the quarter, up 4.9% from 347 million members in the previous quarter and up 23% from 296 million members in the same quarter last year. Note that LinkedIn doesn’t provide any region-wise breakdown of its user base, although India is the largest market for LinkedIn outside the United States, where the company had claimed to have more than 24 million registered users as of February last year.

LinkedIn Member Metrics

Operational highlights

Launched Lead Accelerator, a lead generation product for advertisers. This is an expansion of the marketing solutions platform offered by Bizo, which LinkedIn had acquired in August 2014. The Lead Accelerator will be available in most markets globally, although LinkedIn did not specifically mention which countries. According to the company the product is the most significant of its integrated Marketing Solutions suite, and can deliver relevant advertisements and content to both anonymous and known consumers anywhere online.

Acquired Refresh, a startup that helps people prepare for meetings in a professional setup. It is essentially a digital briefing book. Refresh stopped accepting new users and their iOS app shut down on April 15, plus 12 of Refresh’s team of 15 joined LinkedIn.

Announced the acquisition of online tutorials and training platform Lynda.com for $1.5 billion. The acquisition is expected to close by Q2 this year and is a cash (52%) and stock (48%) deal. Most of Lynda’s team members are expected to join LinkedIn, with the latter’s belief that Lynda.com will help both its users and professionals to accelerate their careers.

Financials

LinkedIn’s revenues from Asia Pacific (APAC) region was at $54 million for the quarter, up 38.5% from $35 million in the same quarter last year, however it remained flat from the previous quarter. 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).

– Talent Solutions: The revenue from talent solutions was at $396 million for the quarter, a 35.6% increase year-on-year (YoY). Talent solutions accounted for over 62% of the company’s total revenues in the quarter, almost similar to 61.7% in Q4 2013.

Online talent solution sales was at $92 million for the quarter, up 29.6% YoY and accounting for 23.2% of LinkedIn’s talent solution revenues. The field talent solution sales was at $305 million for the quarter, up 38% YoY and accounted for 77% of LinkedIn’s talent solution revenues.

– Marketing Solutions: The revenue from Marketing Solutions was at $119 million for the quarter, up 38% YoY. Marketing solutions accounted for around 18.6% of the company’s total revenues in the quarter.

– Premium Subscriptions: The revenue from Premium Subscriptions was at $122 million for the quarter, a 28% increase YoY. Premium subscriptions represented around 19.1% of the company’s total revenues in the quarter.

– Field sales v/s Direct Sales: Revenues from the field sales channel was at $393 million for the quarter, up 43% YoY and representing 61.6% of the company’s total revenue for the quarter while the revenues from the online direct sales channel was at $244 million, up 23% YoY and representing around 38.2% of the company’s total revenues for the quarter.

– Corporate Solution Customers: LinkedIn reported 34,764 corporate solution customers for the quarter, up 34.5% from 25,844 customers in Q1 2014.

– Cashflow: LinkedIn has $3.53 billion in cash, cash equivalents & marketable securities for the quarter, up from $3.44 billion in the previous quarter.

– Headcount: LinkedIn ended the quarter with 7,633 employees, up from 6,897 employees in the previous quarter.

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