Business-focused social networking website LinkedIn has reportedly added 14 million new members with revenue rising to $167.7m, an increase of 105% compared to last year’s $6.9m at the same period. Shares in the firm rose almost 7%.
Rival site Facebook which has reached 800 million members, recently announced plans for a stock market flotation. Facebook is the world’s biggest Social networking site also allowing individuals and companies to place ads across several markets such as online casino gaming, real estate, job offers and many more.
LinkedIn which has more than 150 million members worldwide, posts work biographies of individuals and lets them recommend friends and colleagues, had its own float last May.
“It was a fitting end to a memorable year in which we reinforced our position as the pre-eminent professional network on the web,” said chief executive Jeff Weiner.