It used to be that people would look at the “want ads” in the newspaper. Then online job sites like Monster Worldwide (MWW) blew up that model by posting positions online and connecting employers with prospects via the Internet.
Well, LinkedIn (LNKD) has taken that one step farther in the age of social media, tying together networking, job ads and even content tied to professional development. The stock has blown up as a result — LNKD priced its 2011 IPO at $45 and now trades around $190.
Don’t think this is just a social media fad like Facebook (FB), however, dependent on fickle users and display advertising. While Facebook is struggling to find profits thanks to mobile challenges, LinkedIn boasts a host of corporate customers. Its annual report in February revealed a 78% jump in Corporate Solutions customers — that is, enterprises or professional organizations that use LinkedIn for recruiting or marketing services.
LinkedIn also is rethinking the space with its Influencers content, providing professionals with career tips, news and other professional insights from thought leaders.
Also important: LNKD has a real media CEO in Jeff Weiner, who joined LinkedIn in 2008 after serving as a vice president at Yahoo (YHOO) — which owns HotJobs, one of those Internet job sites like Monster that disrupted the space previously.
LinkedIn reports earnings at the beginning of August.