LinkedIn Hits the Tipping Point in India
LinkedIn (NYSE:LNKD) India now has more than 13 million members, making India the second largest user base for LinkedIn in the world behind the USA, said LinkedIn India Country Manager Hari Krishnan.
Operations in India launched in November 2009, although the site had been there previously for Indian users to register themselves and use. The site had about 3.4 million users in 2009. It has added around 3 million registered users in the past six months alone — up from the June milestone of 10 million.
“Scaling up our India operations is a key focus area for us,” said Krishnan. “We already have three Sales and marketing offices in the country; one each in Mumbai, Gurgaon and Bangaluru.”
Here’s how LinkedIn shares are reacting to the news:
Linkedin Corporation (NYSE:LNKD): LNKD shares recently traded at $62.50, up $0.77, or 1.25%. They have traded in a 52-week range of $55.98 to $122.70. Volume today was 243,011 shares versus a 3-month average volume of 1,447,250 shares. The company’s trailing P/E is 856.16, while trailing earnings are $0.07 per share.
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