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back to article LinkedIn shows webtastic social media firms how it's done

LinkedIn stuck its tongue out at all its social media rivals with better-than-expected revenue and a tidy profit for the second quarter. While web firms like Facebook, Groupon and Zynga have seen their stocks tumble amid mounting losses and growing concern over how they will continue to grow revenue, LinkedIn's net profit of $ …

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  1. Pen-y-gors
    WTF?

    I still don't understand

    Profits of $2.8million on an income of over $200million, with virtually zero capital assets, and a fair chance that the business won't exist in 10-15 years, really, really does not justify a market valuation of over $6 billion. Are all these investors confined to padded rooms?

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    1. vgrig_us
      Reply Icon

      Re: I still don't understand

      Probably same people who valued VA Linux at $9.5 billion, or more than half that of Apple Computer at the time (December 1999).

      Now - Linux itself is alive and well as we know. So will be some social media sites in the future. As for VA Linux? It's Geeknet, Inc. now (thinkgeek website anyone?) with total assets of 74.2 million and total equity 62.6 million (all USD). So, $9.5 billion down the drain. Awesome job, investors!

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    2. Anonymous Coward
      Reply Icon
      WTF?

      @Pen

      You actually thought there's logic and sanity behind advertising ?

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  2. vgrig_us

    LinkedIn shows webtastic social media firms how it's done

    Not for long - people (like technical recruiters) who pay for premium accounts will slowly (cause that's just tha type of people who would buy a premium account on linked in - sloooow) that it's a waste of money. It's not really linkedin's fault - it's just if you're annoying salesman with no value in what you sell (like non-existing job postings - looking at you again, technical recruiters!) it doesn't matter where you approach potential targets.

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  3. JP 6

    Is it worth joining?

    Linkedin can be useful if it is better monitored. It is full of fake profiles. It is often difficult to get fake profiles off the system. Here is an example of suggested recommendations for linking:

    http://www.flickr.com/photos/63854773@N00/7627850420/

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  4. JimmyPage Silver badge
    FAIL

    LinkedIn losing the edge ?

    funny, coz I care much less about my LinkedIn profile, since I started getting loads of agencies trying to connect.

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  5. dg32

    What do people actually do on LinkedIn?

    LinkedIn is the Match.com of the under-employed.

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    1. Anonymous Coward
      Reply Icon
      Anonymous Coward

      Re: What do people actually do on LinkedIn?

      Interesting technical discussions on Iso 17025, though marred by inappropriate job adverts for system analysts and web designers.

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    2. The Flying Dutchman
      Reply Icon

      Re: What do people actually do on LinkedIn?

      To be honest, I have not the faintest idea. LinkedIn appears to be mostly inhabited by management & marketing types, bureaucrats and similar purveyors of hot air, and spammers.

      A fun experiment you can actually do at home: try adding "skills" to your profile: "iPad" (no further qualifiers) is apparently a "skill", while "electronic circuit design" is "not a recognized skill" *. Puah.

      To be honest, for me even Facebook has worked out much better as a professional networking tool, than LinkedIn.

      * last time I tried

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  6. Anonymous Coward
    Anonymous Coward

    They will disappear slowly

    LinkedIn will slowly disappear because they have no long term value to anybody but job spammers. They are either impotent at getting rid of fake profiles and job spammers, or they don't care because they need the revenue. I would like to see the number of downgrades after people discover inmails don't work for shit. The inmail guarantee is worthless and they must know it because they have the stats on how very few people actually reply to an inmail request. And don't get me started on fake profiles, but I want to know how a fake profile gets locked so you can't flag it as being fake. Money is my guess. And what's with the archived discussion so you can't flag a job spammer? Just like Facebook, if people knew the reality of the environment, there would be no investors, except the fools.

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  7. Anonymous Coward
    Anonymous Coward

    "gone gotten"

    Is this a typo or some perverse USAianism?

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