LinkedIn posts strong Q4 2013, announces intent to acquire Bright
LinkedIn has posted its fourth quarter 2013 results, and reflected values that saw a 47 percent profit increase, resulting in $447.2 million total revenues compared to the $303.6 million it earned in the fourth quarter of 2012. The company also posted a Net income of $3.8 million for the fourth quarter.
The majority of LinkedIn’s revenue, 55 percent, came from its recruiting product group, Talent Solutions, which amounted to $245.6 million, an increase of 53 percent compared to the fourth quarter of 2012. Its Marketing Solutions products revenue totaled some $113.5 million, an increase of 36 percent compared to the fourth quarter of 2012, and represents 25 percent of the company’s total revenues for the fourth quarter. Meanwhile, LinkedIn’s Premium Subscriptions brought in another 20 percent of its total revenue for the fourth quarter of 2013, which totaled to $88.1 million, an increase of 48 percent compared to the same quarter of the previous year.
LinkedIn boasted that it now has more than 277 million members, which the company referred to as a solid growth, but despite its strong revenues its share value was down in after-hours trading because of investors’ concerns with its overall growth.
In other LinkedIn news, the company has announced its intention to acquire Bright, a data-driven job search startup, for $120 million. If the acquisition pushes forward, it will be the company’s largest acquisition to date, next to its $119 million acquisition of SlideShare, and $90 million acquisition of Pulse.
The acquisition of Bright will fit perfectly with its Talent Solutions product to make it easier to match applicants and available job positions. Bright takes an algorithmic approach to match job seekers to positions they are qualified for, and those companies that could use them.
This deal could also help the company sign up more members, or entice existing users to upgrade to a premium account.
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