Continuous product development will ensure LinkedIn sees off the threat of Facebook at Work, according to the professional network’s managing director for Europe, Ariel Eckstein.
Last month, social network Facebook, which has typically been associated with personal use, launched its drive to move into the professional side of social networking with Facebook at Work. The Facebook service enables users to create a work account separate from their personal one and connect with co-workers.
At an event in London yesterday [5 February], Eckstein told Recruiter
LinkedIn will use its established strategy of continuous product innovation to protect its position as the world’s “most popular” professional network.
“We will continue to innovate the way we always have,” Eckstein said. “That has made us the world’s most popular professional network.
“We have announced the launch of a feature in our recruitment product where you can look at the fit of a particular candidate,” he added.
“Our punch line is the jobs that are on LinkedIn. There are almost 3m jobs on LinkedIn, up from 300,000 last year.”
The importance of the LinkedIn’s recruitment products to its business was underlined by Q4 and full-year results, published yesterday, which show revenue from LinkedIn’s hiring product Talent Solutions was US$369.3m (£241m) in Q4, and now accounts for 57% of group revenue.
Q4 revenue was $643m, an increase of 44% compared to $447m in the fourth quarter of 2013. Full-year revenue in 2014 was $2,219m, up 45% compared to $1,529m in 2013.
Eckstein was speaking at an event launching new LinkedIn product The Volunteer Workplace. The service puts charities in touch with relevant LinkedIn members who have expressed an interest in volunteering and enables professionals to browse specific, volunteer opportunities that non-profit organisations are seeking to fill.
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