LinkedIn’s Revenue Growth Continues To Flourish Despite The Unforgiving Job Market

The COVID-19 era brought forward times of economic disparity and quantifiable difficulties for businesses of all scales. While only a very few giant businesses like Google, Apple, Twitter, Facebook and Amazon were taking stead and progressing in these times. The rest of the businesses were taking a toll. In order to efficiently save their businesses in these uncertain times, most of the owners took to cutting on additional cost, unimportant workers and audited to increase the efficiency all the way. These resulted in a lot of inefficient workers, workers whose skills were not important, or workers that could easily be replaced for new ones in the post COVID world to be laid off.

The massive amount of workers being flooded into the job market was a problem for many, however, LinkedIn capitalized the most as a result of this. Its activity saw a significant boost and the user base expanded to more than expected. Consequently, the revenue generated from advertisements increased as well. LinkedIn banked on this time and introduced reforms to retain the increase in users. It generated over 10 billion dollars, a record, as Microsoft released its subsidiaries revenue information.

The most prominent feature that resulted in LinkedIn's increased popularity was its ad tools that allowed both sides of the market to connect freely and decision makers to market their products as well.

According to the words of CEO Microsoft, LinkedIn’s Parent Company, Satya Nadella, the success of LinkedIn is attributed to its ability to meet specific demands of users. Furthermore, the access arrangement to attribute to the growing and diverse job markets also allows LinkedIn to surf freely and attract new customers. She also went on to mention the record that the three subsidiaries have achieved of attaining 10 billion dollars in revenue. These subsidiaries were led by gaming, seconded by LinkedIn and third on the track was its security solutions.

Since its acquisition back in 2016, the users on LinkedIn have almost doubled from 430 to 774 million users, whilst the profits have tripled from then 3.7 billion dollars to now 10 billion dollars.

To retain the users, LinkedIn is actively working to better develop the app to suit the diverse market that it now caters. The developments and its success are clear with the revenue, however, it is expected that there is more potential towards the social media platform and its user accessibility. Tech experts have given a statement that LinkedIn is on the right path to increase its user database, membership potential and the revenue to break all records that it has. The COVID-19 world has provided LinkedIn with an opportunity and its third quarter reports show that it is capitalizing to they maximum

Photo: Getty Images

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