LinkedIn Plans to Open Up in a Closed Sort of Way - Bits - Technology - New York Times Blog

LinkedIn Plans to Open Up in a Closed Sort of Way - Bits - Technology - New York Times Blog: "October 12, 2007, 1:46 am LinkedIn Plans to Open Up in a Closed Sort of Way By Saul Hansell Tags: Dan Nye, Facebook, LinkedIn, Social networks and communities Ask your questions of Dan Nye here.

When I asked when it would be ready to file for a stock sale, Mr. Nye gave the usual corporate boilerplate.

“We are in no hurry to go public,” he said. “We are trying to build a company the right way for the long haul.”

LinkedIn makes money

Mr. Nye said the company had just become profitable at the end of last year, when its revenue was just over $10 million. By next year, he said LinkedIn hopes for revenue of $75 million to $100 million. The company’s revenue is split roughly evenly between advertising, online purchases of premium memberships and job listings, and bulk sales to corporations.

Of these, advertising is most likely to grow fastest, he said. “Look at the quality of our membership. It largely mirrors the Wall Street Journal audience.” The average income is $140,000 he said, and the average age is 35.

Dan Nye, the chief executive of LinkedIn, has looked closely at the frenzy around Facebook, and has made a crucial decision: There will be no food fights on LinkedIn.

Yes, he’s rushing to copy the electronic underpinnings of Facebook’s elegant application programming interface, or A.P.I., that allows outside developers to weave their own programs into its site.

But because his site is aimed at professionals seeking to network, he wants to keep these add-ons all business, unlike the unrestrained goofiness on Facebook, where programs let you turn your friends into vampires, draw graffiti on their pages, and challenge them to stimulating news quizzes.

“We have no interest in doing it like Facebook with an open A.P.I. letting people do whatever they want,” Mr. Nye said. “We’re not going to have people sending electronic hamburgers to each other.”


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