2023-06-25 18:01:00
The world’s largest online professional network, LinkedIn, celebrates its 20th anniversary. With 930 million users, the platform has become an economic juggernaut. A success that can be explained by several factors, at the dawn of new challenges, with the rise of artificial intelligence.
LinkedIn is a social network with a positioning very different from the others. On TikTok and Snapchat, it’s mostly young people talking to young people. Instagram is an influencer’s paradise. Twitter is a mixture of wacky videos and rumor or information machines.
But LinkedIn is the social network for professionals: a platform on which you post your CV, where you talk about your work or your vision of the business world. Finally, LinkedIn is the ideal place to network, to create and maintain professional relationships.
LinkedIn sells space and training tools
It is difficult to know the exact profitability of the platform but we know that it is one of Microsoft’s cash machines. When, in 2016, the IT giant spent 27 billion to buy LinkedIn, some cried foul. At the time, the social network was barely 3 billion in turnover. He will do more than 15 this year, 5 times more in 7 years.
LinkedIn’s secret lies in their pool of users with 920 million CVs or professional profiles. Every second, 5 members join the network. To the point of becoming an essential tool for HRDs and headhunters.
This allows them to find talent, do advanced research and speak directly to potential candidates for employment. This service is necessarily paying and it is largely in this way that LinkedIn – which also sells space and training tools – can fill its dollar safe.
What are the group’s challenges in the years to come?
In an interview given to Echos this Thursday, the CEO of LinkedIn, Ryan Roslansky, listed several challenges that await his network. The first is to integrate artificial intelligence and make it a tool that does not compete with LinkedIn. AI should allow the group to offer better services to HRDs, by helping to sort, by sending a first email or by ensuring notification reminders.
The other challenge is to move from a site mainly used for the world of executives to a site for the employment of all, including those with low qualifications. And, to generate growth, it will also be necessary to find new relays. One of the tracks is to become a site capable of offering permanent training because it is obvious that the acceleration of technological progress requires training throughout its life.
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