Launched in 2003, LinkedIn is a professional networking platform owned by Microsoft. It enables users to connect with other professionals, explore career opportunities, and showcase their skills and experience. With a billion-plus user base, LinkedIn primarily generates revenue by providing recruiters and sales professionals with valuable member data.
In December 2001, a study published in the ACM SIGGROUP Bulletin highlighted a concerning gap in research regarding the use of mobile phones and digital tools by blue-collar workers for job searching. The study expressed concerns that this lack of research could perpetuate inequalities in the digital age, giving more power to employers over workers.
Reid Hoffman, along with founding members from PayPal and Socialnet.com, established LinkedIn in December 2002.
On May 5, 2003, Reid Hoffman and Eric Ly launched LinkedIn as a business and employment-focused social media platform.
Sequoia Capital led a Series A investment in LinkedIn in late 2003, providing crucial capital for growth.
LinkedIn hit a significant milestone in August 2004 by reaching one million users.
In March 2006, LinkedIn celebrated its first month of profitability, a testament to its growing user base and revenue streams.
LinkedIn achieved profitability for the first time in March 2006.
LinkedIn's user base rapidly expanded, reaching ten million users in April 2007.
In 2007, LinkedIn introduced LinkedIn Answers, a platform where users could pose questions to their network and receive ranked answers.
Expanding accessibility, LinkedIn introduced a mobile version of its platform in February 2008.
LinkedIn introduced its mobile site in February 2008, making it accessible in six languages: Chinese, English, French, German, Japanese, and Spanish.
In June 2008, venture capital firms, including Sequoia Capital and Greylock Partners, invested $53 million in LinkedIn, valuing the company at approximately $1 billion.
In October 2008, LinkedIn launched its "applications platform," allowing external services like Amazon Reading List, Tripit, and blogging platforms to be integrated into user profiles.
In October 2008, LinkedIn revealed plans to open its social network of 30 million professionals globally for business-to-business research, testing a potential revenue model.
LinkedIn expanded its presence into the Asia-Pacific region in November 2009, opening offices in Mumbai and Sydney.
In 2009, LinkedIn restricted access from Syria, citing US export and re-export control laws and regulations as the reason. The company stated its policy of blocking member accounts and site access from countries including Cuba, Iran, North Korea, Russia, Sudan, and Syria.
In November 2010, LinkedIn enabled businesses to showcase products and services on their company pages. The platform also allowed users to write reviews and "recommend" offerings. However, some previously supported external services, including Amazon's Reading List, were discontinued shortly after.
By 2011, LinkedIn had significantly expanded its workforce to 2,100 full-time employees, a substantial increase from 500 in 2010.
LinkedIn established its International Headquarters in Dublin, Ireland, in 2010 and made its first acquisition, Mspoke. The company also received a $20 million investment from Tiger Global Management LLC, valuing it at approximately $2 billion.
Research published in Social Science Computer Review in 2010 revealed that LinkedIn, along with Facebook, had become a valuable tool for recruiting job applicants, especially in professional occupations. Recruiters were found to use these platforms to gather additional information about candidates and make decisions about interview selections.
Starting in 2010, LinkedIn began contributing internal technologies, tools, and software products to the open-source domain.
In January 2011, LinkedIn acquired CardMunch, a mobile app specializing in scanning business cards and converting the information into digital contacts.
In January 2011, LinkedIn unveiled InMaps, a feature enabling users to create visualizations of their professional network, showcasing connections and their relationships.
LinkedIn took a significant step towards going public by filing for an IPO in January 2011.
Since January 2011, LinkedIn received a total investment of $103 million, demonstrating confidence in its growth potential.
In February 2011, LinkedIn faced temporary blocking in China following calls for a "Jasmine Revolution." The blocking was attributed to concerns that the platform could be used to access the already banned Twitter, potentially facilitating communication among dissidents. However, access to LinkedIn was restored within a day.
LinkedIn went public on May 19, 2011, with its shares trading on the New York Stock Exchange (NYSE) under the symbol "LNKD." The IPO price was $45 per share, which would be approximately $60 in 2023.
In July 2011, LinkedIn launched a new feature allowing companies to include an 'Apply with LinkedIn' button on job listing pages. This plugin enabled potential employees to apply for positions using their LinkedIn profiles as resumes.
In December 2011, LinkedIn introduced a polling feature to its groups, allowing for member engagement and feedback.
In 2011, LinkedIn experienced rapid membership growth, gaining approximately two new users every second.
LinkedIn built and open-sourced Apache Kafka in 2011.
In June 2012, cryptographic hashes of 6.4 million LinkedIn user passwords were stolen by hackers and published online. LinkedIn asked users to change their passwords following the incident.
In July 2012, LinkedIn purchased 15 key patents from Digg for $4 million, including one for the "click a button to vote up a story" functionality.
Starting in September 2012, LinkedIn users gained the ability to "endorse" each other's skills, but the platform lacked a mechanism to flag inaccurate or inappropriate endorsements. LinkedIn's algorithms sometimes suggested endorsements for skills users didn't possess, leading to potentially misleading profiles.
October 2012 saw the launch of LinkedIn's Influencers program, featuring thought leaders sharing insights.
A significant data breach occurred on LinkedIn in 2012, though specific details about its nature and impact were not provided in the context.
In 2012, LinkedIn CEO Jeff Weiner set a goal to create an 'economic graph' within a decade, aiming to build a comprehensive digital map of the world economy on the company's platform.
In 2012, LinkedIn hosted over 1,248,019 interest groups with varying membership sizes. These groups provided moderated discussion forums. While LinkedIn implemented measures to combat spam within these groups, it removed the ability for group owners to view new members' email addresses, making spam detection more difficult.
In 2012, LinkedIn was described by TechRepublic as the de facto tool for professional networking and praised for fostering business relationships.
Citing a focus on developing more engaging features, LinkedIn discontinued its Q&A platform, LinkedIn Answers, in January 2013. Launched in 2007, LinkedIn Answers allowed users to pose questions to their networks and upvote responses.
On May 31, 2013, LinkedIn added two-factor authentication to enhance security and prevent hackers from accessing accounts.
By June 2013, CardMunch had been incorporated into LinkedIn as an available app within the platform.
On July 23, 2013, LinkedIn announced its Sponsored Updates ad service, allowing individuals and companies to pay for promoting their content to a broader user base.
In October 2013, LinkedIn released "Intro" for iPhone users. This service embedded thumbnails of LinkedIn profiles into email correspondence when users interacted with contacts via the iOS Mail app. This functionality required routing emails through LinkedIn's servers, raising privacy concerns highlighted by security firm Bishop Fox, which likened it to a man-in-the-middle attack.
LinkedIn launched Showcase Pages in November 2013, providing a new way for businesses to highlight specific brands, products, or initiatives to a targeted audience within the platform.
In 2013, a class action lawsuit, Perkins vs. LinkedIn Corp, was filed against LinkedIn, alleging the company sent invitations to contacts in users' address books without consent. While the court acknowledged that permission was given for initial invitations, it found the two subsequent reminder emails to be unauthorized.
At the end of 2013, it was revealed that the LinkedIn app intercepted users' emails and moved them to LinkedIn servers using man-in-the-middle attacks.
As of 2013, Viadeo, a competitor to LinkedIn, had reached 50 million users.
In 2013, revelations from Edward Snowden's global surveillance disclosures exposed Operation Socialist. This operation involved British intelligence agency GCHQ infiltrating the Belgian telecommunications company Belgacom by creating a fake LinkedIn page to lure employees.
In February 2014, LinkedIn launched "领英", a Simplified Chinese version of its platform, expanding its services into China.
In April 2014, LinkedIn secured a lease for a 26-story building in San Francisco's SoMa district to accommodate its growing workforce, aiming to house up to 2,500 employees.
In June 2014, LinkedIn announced its 'Galene' search architecture to provide users with better access to the economic graph's data through more thorough filtering.
In November 2014, LinkedIn lost a motion to dismiss a lawsuit, with a ruling that the invitations were advertisements not broadly protected by free speech rights.
In 2014, LinkedIn decided to discontinue its Product and Services Pages, signaling a strategic shift towards greater emphasis on Showcase Pages for businesses to promote their offerings.
LinkedIn retired the InMaps feature in 2014. InMaps, launched in January 2011, provided users with a visual representation of their professional network.
In 2014, Russia enacted a data retention law requiring user data of Russian citizens to be stored on servers within the country.
In 2014, Dell SecureWorks Counter Threat Unit (CTU) uncovered that an Iran-based group, Threat Group-2889, created 25 fake LinkedIn accounts. These accounts, disguised as fully developed or supporting personas, were used to launch spearphishing attacks and direct victims to malicious websites.
In February 2015, LinkedIn updated the terms of use for its developer API, which enables companies and individuals to interact with LinkedIn data by creating third-party applications. These applications are subject to a review process and must obtain user permission before accessing data.
In 2015, LinkedIn settled a lawsuit in favor of its members, following a prior ruling that invitations were advertisements and not protected by free speech rights.
In 2015, Russia implemented legislation mandating social media companies to store Russian citizens' personal data on servers located in the country.
Since 2015, LinkedIn has published annual rankings of Top Voices, recognizing members who generate the most engagement and interaction with their posts.
In 2015, LinkedIn reached a $13 million settlement (equivalent to ~$16.3 million in 2023) for the Perkins vs. LinkedIn Corp class action lawsuit. The lawsuit alleged that LinkedIn sent unauthorized invitations and reminders to contacts in users' address books.
By 2015, LinkedIn's primary revenue source shifted to selling access to its member data, including recruiters and sales professionals.
As of 2015, LinkedIn had surpassed 400 million users spread across over 200 countries and territories, significantly exceeding Viadeo's 50 million users in 2013.
In 2015, LinkedIn added an analytics tool to its publishing platform, allowing authors to better track the traffic their posts receive.
As of January 2016, LinkedIn had 1,250 employees based in San Francisco.
Following an earnings report in February 2016, LinkedIn's share price plummeted by 43.6% in a single day, resulting in a $10 billion loss in market capitalization.
In March 2016, LinkedIn began moving its San Francisco-based staff into the new office building at 222 Second Street.
As of May 2016, the LinkedIn Influencers program had grown to include over 750 prominent figures from various industries, offering their perspectives to the platform's users.
In May 2016, 117 million LinkedIn usernames and passwords from the 2012 hack were offered for sale online, revealing the extent of the breach.
Microsoft made a groundbreaking announcement in June 2016, revealing its intention to acquire LinkedIn for $26.2 billion, making it the largest acquisition for Microsoft at that time.
In October 2016, LinkedIn acknowledged that endorsements 'really do matter' and began highlighting endorsements from coworkers and mutual connections to address criticism.
On November 10, 2016, Russian ISPs began blocking LinkedIn following a court ruling that upheld a ban on the platform for violating data retention laws.
Microsoft's acquisition of LinkedIn was finalized on December 8, 2016, marking a significant moment for both companies.
On December 2016, LinkedIn became a wholly owned subsidiary of Microsoft after being acquired for $26.2 billion.
Russian authorities blocked access to LinkedIn in 2016 due to the company's non-compliance with national legislation requiring social media networks to store citizens' personal data on servers within Russia.
LinkedIn unveiled plans to expand its Dublin office in late 2016, adding 200 new positions and bringing the total employee count to 1,200.
In 2016, LinkedIn started publishing its Top Companies lists, which identify companies attracting the most interest from job candidates. These lists are published annually and cover multiple countries.
A study published in Research Policy in May 2017 examined the use of LinkedIn by PhD holders. The findings indicated that those transitioning into industry were more likely to have active LinkedIn accounts, maintain larger networks, utilize the platform for collaborations with international co-authors, and leverage it for career advancement when working abroad.
In May 2017, LinkedIn sent a cease-and-desist letter to hiQ Labs, a Silicon Valley startup that collects and analyzes public profile data, demanding they stop "scraping" data from LinkedIn, citing violations of the CFAA and DMCA. hiQ Labs responded by suing LinkedIn, requesting the court to prevent LinkedIn from blocking access to public profiles.
By 2017, LinkedIn emerged as a dominant platform for B2B marketers, with 94% using it for content distribution.
Germany's Federal Office for the Protection of the Constitution (BfV) revealed in 2017 that Chinese intelligence services had established fake profiles on social media platforms, including LinkedIn. These profiles were used to gather information about German politicians and government officials.
In 2017, LinkedIn launched a new interface and changed its connection policy, allowing users to connect with up to 30,000 people without prior relationships. This made LinkedIn more proactive for networking and lead generation.
In 2017, LinkedIn restricted job postings from Western countries for positions in China.
In 2017, LinkedIn's Profinder had around 60,000 freelancers in more than 140 service areas. This marketplace allowed freelancers to bid for project proposals submitted by individuals and small businesses.
Sociologist Ofer Sharone conducted interviews with unemployed workers in 2017 to understand the influence of LinkedIn and Facebook on job searching. The research found that these platforms create a filtering effect often unrelated to merit, leading job seekers to tailor their online presence to conform to these platforms' algorithms.
According to the company's official website, LinkedIn Referrals was discontinued after May 2018.
In July 2018, Credit Wise reported that LinkedIn user emails and passwords were exposed on the "dark web." Subsequently, users received extortion emails, leveraging this information to falsely claim their contacts were hacked and threatening to release fabricated pornographic videos of them. While LinkedIn linked this to a 2012 breach, no evidence supports this assertion.
In October 2018, researchers at the Foster School of Business conducted a study on the effectiveness of LinkedIn networking. They found that contrary to popular belief, connecting with employees at a target company or field didn't necessarily increase referral chances, attributing this to factors like job similarity and competition avoidance. Referrals were more likely when connections were in higher positions, and gender didn't impact the competition effect.
In 2018, LinkedIn launched its carousel ads feature, allowing businesses to showcase their products or services through swipeable cards for various marketing objectives.
In July 2019, sociologists conducted interviews with human resources recruiters, revealing a division in recruitment strategies. Recruiters seeking low-skilled workers relied on online job boards, while those seeking high-skilled individuals focused on targeting passive candidates on LinkedIn. This practice contributes to a job market where high-skilled workers benefit from proactive recruitment while others face intense competition.
A September 2019 working paper presented a randomized evaluation conducted in South Africa that trained job seekers on effective LinkedIn usage. The study found that the training led to a 10% increase in employment rates by bridging information gaps between job seekers and employers. The positive impact persisted for about 12 months, indicating the training's long-term benefits.
In September 2019, an appeals court rejected LinkedIn's appeal in the case against hiQ Labs, upholding the preliminary injunction that allowed hiQ Labs to continue collecting public data from LinkedIn. The legal battle between the two companies continued.
LinkedIn introduced two significant features in 2019: Open for Business, enabling freelancer discovery, and LinkedIn Events, expanding the platform's networking capabilities.
In 2019, LinkedIn published its Top Companies list, identifying Alphabet as the most sought-after U.S. company, with Facebook and Amazon ranked second and third, respectively. The lists are based on over one billion actions by LinkedIn members.
Jeff Weiner stepped down as CEO of LinkedIn in June 2020, transitioning to the role of executive chairman. Ryan Roslansky, previously senior vice president of product, took over as CEO.
In late July 2020, LinkedIn announced layoffs affecting 960 employees, representing about 6% of its workforce, due to the global impact of the COVID-19 pandemic.
In October 2020, LinkedIn expanded the availability of its stories feature, making it accessible to users worldwide.
By 2020, LinkedIn's user base had grown to over 690 million members.
In 2020, LinkedIn found itself under fire for its struggles in combating misinformation and disinformation on its platform. The platform faced criticism for its handling of issues like fake profiles and the spread of falsehoods related to COVID-19 and the 2020 US presidential election.
In 2020, LinkedIn's Top Voices lists included 14 industry categories and 14 country lists, recognizing members who generated the most engagement on the platform.
Research published in Applied Economics in 2020 utilized LinkedIn data to demonstrate that high-status individuals were more likely to join professional networking services like LinkedIn, not because they were dissatisfied with their careers, but as a way to further their already advantageous positions.
In April 2021, CyberNews reported a potential leak of 500 million LinkedIn accounts. However, LinkedIn clarified that it was not a breach but an aggregation of data scraped from various websites and companies.
In April 2021, LinkedIn experienced a data breach affecting 500 million users. Details regarding the nature of the breach were not specified in the provided text.
In June 2021, a data scraping incident impacted a staggering 92% of LinkedIn users. The incident exposed contact and employment information. LinkedIn clarified that the data was aggregated through web scraping from LinkedIn and other websites, emphasizing that only information publicly available on user profiles was compromised.
PrivacySharks reported in June 2021 that over 700 million LinkedIn records were available for sale on a hacker forum. LinkedIn clarified that it was not a data breach but scraped data, which violated its Terms of Service.
LinkedIn was blocked in Kazakhstan in July 2021.
By September 2021, LinkedIn had surpassed 774 million registered users across more than 200 countries and territories.
In September 2021, LinkedIn shut down its stories feature, which had been rolled out globally in October 2020.
LinkedIn generated $10.3 billion in revenue in 2021, demonstrating its strong financial performance.
In 2021, LinkedIn's Top Companies list identified Amazon as the top company, followed by Alphabet and JPMorgan & Chase Co. The lists are based on the actions of LinkedIn members worldwide.
In 2022, LinkedIn earned the dubious distinction of being the most imitated brand in phishing attempts, highlighting its popularity among scammers seeking to exploit its vast user base.
LinkedIn experienced substantial revenue growth in 2022, reaching $13.8 billion compared to $10.3 billion in 2021.
Microsoft's acquisition of Activision Blizzard in 2022 surpassed the LinkedIn acquisition as the company's largest.
In May 2023, LinkedIn announced the phasing out of its InJobs app, a China-exclusive platform, by August 9, 2023.
In May 2023, LinkedIn announced a reduction of 716 jobs, aiming to simplify its operations. CEO Ryan Roslansky indicated this would lead to 250 new roles. Additionally, LinkedIn revealed the closure of its localized job application services in China.
LinkedIn's InJobs app was shut down in August 2023.
August 2023 saw a wave of targeted attacks on LinkedIn users involving account hijacking and phishing. Hackers locked users out of their accounts, demanding a ransom to prevent permanent deletion.
In 2023, LinkedIn continued to use the Momentum email platform from Message Systems to handle the high volume of emails sent daily to its users.
The investment received by LinkedIn, totaling $103 million, would be equivalent to approximately $138 million in 2023.
LinkedIn's IPO price of $45 per share in 2011 would be equivalent to approximately $60 in 2023.
As of February 11, 2024, LinkedIn expanded its global presence with 36 offices worldwide.
By February 2024, LinkedIn's workforce grew to approximately 18,500 employees.