Please ensure Javascript is enabled for purposes of website accessibility

LinkedIn is ever-popular – and profitable

It’s cruel irony that a social network aimed at connecting job seekers with employers is experiencing an explosion in traffic at a time when no one’s hiring.

That’s exactly what’s happening at LinkedIn, a site that’s doubled its unique monthly visitors over the last year to 7.7 million.

As AdAge points out, there are two things a laid-off exec needs right now: networking and employment ads; LinkedIn offers both. There’s plenty of demand (the site is adding about one member per second) – just not much supply.

You might think this would translate to a loss of profit. Not so, thanks to diversified revenue streams, AdAge reports:

Josh Bernoff, VP and principal analyst at Forrester, said … “Any company that benefits from people out of a job and isn’t dependent on advertising for its revenue is going to be doing great right now,” he said. “And not a lot of companies can say that.” 

LinkedIn generates revenue from ads, job postings, corporate accounts and individual subscriptions (that last category is up, to no one’s surprise). Basic accounts are free, but you have to upgrade to a paid subscription if you want to meet people outside of your networks.

Other sites managing to turn a profit? Check out TheLadders.com. The site caters to top executives looking for jobs with six-figure salaries, and boasts a reverse-revenue model. Roughly translated: users pay to be on the site.

CEO Marc Cenedella expects to grow TheLadders.com by 60% over the next year.

JACKIE SAUTER, Web Editor