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LinkedIn Corporation

LinkedIn Corporation. http://icons.iconarchive.com/icons/cute-little-factory/social-trucks/512/linkedin-2-icon.png. Professor Willie Hernandez: Team C. Caneisha Howell, Michael Kim, Jonathan La, Duyen Luu, Morgan Mcknight, and Nova Ng. E-Commerce vs E-Business.

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LinkedIn Corporation

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  1. LinkedIn Corporation http://icons.iconarchive.com/icons/cute-little-factory/social-trucks/512/linkedin-2-icon.png Professor Willie Hernandez: Team C Caneisha Howell, Michael Kim, Jonathan La, Duyen Luu, Morgan Mcknight, and Nova Ng

  2. E-Commerce vs E-Business E-commerce can be viewed as business conducted with the use of computers or mobile devices through the internet or World Wide Web to bring in revenues by the means of buying and selling transactions. http://photo.ekathimerini.com/kath/engs/img/BUSINESS/2012/12/ecommerce_390_0412.jpg E-business does not bring in revenue, but rather it supports everything to execute proper e-commerce practices. E-business is the digital enabling of a business for the purpose of transactions and logistic processing within the company (Lauden page 11). The tasks do not necessarily have to be connected to the internet to be an e-business. http://www.absolutelystylish.com/graphics/promotion/E-Business_1479919.jpg

  3. Significance in the 21st Century Advanced technologies have made it possible for “merchants to know much more about consumers and to be able to use this information more effectively than was ever true in the past” (Lauden page 14). It has also allowed online merchants to know what others are selling and at what price, enabling them to adjust the price of their products accordingly. Merchants can learn about their customers preferences quicker than ever before. E-commerce has brought several dimensions of technology; ubiquity, global reach, universal standards, richness, interactivity and information density, personalization/customization, and social technology.

  4. Growth of Social Network The recent exponential growth of social network activity has made online communities, such as Facebook and Twitter, prime locations for businesses to engage with their target audiences. There is no denying the current popularity of social networking sites; the top ten of such sites combine to make up over 90 percent of Internet activity (Laudon & Traver, 2013). With such high user traffic on these sites, businesses engaged in e-commerce are inevitably drawn to the extensive pool of potential clientele. http://e27.co/wp-content/uploads/2013/02/Social-e-commerce.png

  5. Value Proposition of Social Networking Social networks provide businesses with both profiles and trends of potential customers, and a means of doing business with them. Not only are businesses researching and marketing to their customer bases through these web-sites, many are also connecting their online infrastructure to social media sites, thus facilitating more efficient and accessible transactions. As Goldenberg, Oestreicher-Singer, and Reichman pointed out in their study on social networks, “Some e-commerce sites have slowly begun to incorporate social features such as communities and forums in which consumers can actively participate. http://2.bp.blogspot.com/-DPPU1bBun6Q/UTu5e_J7HpI/AAAAAAAAAC8/VYM4uYy5ktc/s1600/social.jpg

  6. Value Proposition of Social Networking While social networks provide an undeniably important marketplace for e-commerce to thrive, the true extent of their value is yet undetermined. Shadkam and O’Hara refer to the use of e-commerce on social networks as social commerce in their 2013 article on the leverage social networks can provide. In speaking on the potential growth of social commerce, Shadkam and O’Hara also state, “Worldwide social commerce revenue in 2011 was about 5 billion U.S. dollars, and Booz & Company estimates that this amount will grow to $30 billion dollar by 2015” (Shadkam & O’Hara, 2013, p. 5). This suggests that companies, like LinkedIn Corp., that are already situated as one of the leaders in social networking, could potentially have their brightest days still ahead. http://auburnbusiness.com/images/internet-marketing-work-for-business.jpg http://www.perey.com/images/social_networking.jpg

  7. LinkedIn’s Mission - an economic tool that will be able to "map out the underpinnings of the global economy" - connect professionals around the world and make it easier to find new opportunities and to stay connect with co-workers - offers professional insights or advice (Home Page, Slideshare, LinkedIn Today, Groups and Influencers) http://www.gamification.co/wp-content/uploads/2013/10/linkedin1.jpg

  8. LinkedIn’s Business Model - Value Proposition LinkedIn is a social media recruitment website that offers it’s end users, both companies and individuals, resources to look for work, to hire talent, and to network with each other. Companies are offered a unique, highly targeted and effective combination of employer branding and active sourcing solutions. For individuals, LinkedIn allows professionals to expand their job network and connect to valuable talent around the world. As such, LinkedIn’s value proposition is that it helps professionals stay connected with each other by creating and managing a professional identity and building a professional network ("Understanding linkedin business," 2012). http://troblinreich.com/wp-content/uploads/2012/03/linkedin-job-hunt.jpg

  9. LinkedIn’s Business Model - Revenue Model The website utilizes a business model known as “freemium”, where the core business product, it’s website, is offered for free to members. If members want access to more options and access to powerful tools offered by the website, they can purchase the premium offering. LinkedIn’s premium account includes LinkedIn InMails, Profile Stats Pro, Hiring Solutions and Marketing Solutions. These permit individuals to reach out to recruiters and for recruiters to monitor statistics to better allow them acquire top talent for their companies ("Understanding linkedin business," 2012).

  10. LinkedIn’s Business Model - Revenue Model http://static1.businessinsider.com/image/51fac86fecad04074e000007-1200-924/bii-linkedin-2q2013.png?maxX=400

  11. LinkedIn’s Business Model - Overview The following diagram outlines LinkedIn’s different revenue streams, customer segments, channels as well as their cost structure. LinkedIn’s three main revenue streams are: • Free Offerings and Premium Subscriptions • Hiring Solutions (i.e. Talent Finder) • Marketing Solutions

  12. LinkedIn’s Business Model - Market Opportunity LinkedIn operates its freemium business model in the social media marketplace, which means their main revenue stream is based on the tools that are offered to their premium users. The more powerful tools they offer the more revenue they will generate. A market for 3 to 6 million monthly job openings currently exists worldwide and there is a significant upside potential for LinkedIn if it can tap into even a quarter of this market sector (Trefis, 2013). http://www.stadiastudio.com/sites/default/files/social-networking-gatherings1.jpg

  13. LinkedIn’s Business Model - Competitive Environment/Advantage With such a large market for web postings websites, LinkedIn faces many competitors like Monster.com, Xing and Viadeo that offers similar premium services (Carey, 2011). LinkedIn sets itself apart by also being a social network. It is, however, not competing against websites like Facebook and Twitter because LinkedIn’s social aspect serves as an outlet for users to present themselves professionally to better their careers. http://www.job-interview-site.com/images/job-search/best-job-search-sites.jpg

  14. History of LinkedIn Corporation Launch LinkedIn began in late 2002 by Reid Hoffman and “a team of old colleagues from SocialNet and Paypal” (LinkedIn) Six months later, the corporation launched. Like any startup, growth was slow. However, its mission and idea attracted an investment from Sequoia Capital. http://1.bp.blogspot.com/-dLaxu5ZXKIU/UZTc4x9dl5I/AAAAAAAAGUk/REqU1YZ6jLM/s1600/linkedin-part-2.jpeg http://readwrite.com/files/styles/630_0su/public/fields/SocialMedia_Linkedin.jpg

  15. History of LinkedIn Corporation Experimentation Growth began to increase with the introduction of address book uploads (LinkedIn). Other added features include groups , business lines (Jobs and Subscriptions), and recommendations. LinkedIn also partnered with American Express as a marketing campaign to promote its website and spread usage to business owners (LinkedIn). http://www.askingsmarterquestions.com/wp-content/uploads/2012/05/linkedin-targeting.png http://searchengineland.com/figz/wp-content/seloads/2013/03/Linkedin-Unified-Search.png

  16. History of LinkedIn Corporation Change in Leaders and Expansion • Reid Hoffman steps down and Dan Nye fills his position as the new CEO. The business also “moves to Stierlin Court and opens the Customer Service center in Omaha” (LinkedIn) • In 2008, LinkedIn’s global stance strengthens as it opens its first international office in London and launches a Spanish and French version of its web site (LinkedIn). 3. “Jeff Weiner joins LinkedIn first as President, then CEO, and brings focus and clarity to LinkedIn's mission, values, and strategic priorities” (LinkedIn) 4. LinkedIn goes public in 2011 and “becomes a publicly traded company on the New York Stock Exchange” (LinkedIn) http://blogs-images.forbes.com/thumbnails/blog_978/pt_978_3934_o.jpg?t=1341367127

  17. LinkedIn’s Growth http://cdn.business2community.com/wp-content/uploads/2013/11/linkedin-members.jpg

  18. Management Team Jeff Weiner Chief Executive Officer Jeff joined the company in December 2008, and under his leadership, LinkedIn has rapidly expanded its global platform to 20 languages and 26 offices around the world, grown its membership base from 33 million to more than 259 million members and increased its revenue more than tenfold to $972 million in 2012.

  19. Management Team Nick Besbeas Vice President, Marketing Joined LinkedIn in January 2011 to lead the company’s global marketing strategy. He came to LinkedIn from Yahoo!, where he was Senior Vice President of Consumer Marketing and Insights.

  20. Management Team Shannon Stubo Vice President, Corporate Communications Joined LinkedIn in September 2010 as Vice President of Corporate Communications and is responsible for driving the company’s worldwide communications activities, including media relations, financial communications and consumer PR.

  21. Management Team Other management team members: • Mike Gamson - Senior Vice President, Global Solutions • Deep Nishar - Senior Vice President, Products and User Experience • Erika Rottenberg - Vice President, General Counsel and Secretary • Kevin Scott - Senior Vice President, Engineering and Operations • Steve Sordello - Senior Vice President and Chief Financial Officer • Pat Wadors - Vice President, Global Talent Organization

  22. Professional Interview Interviewee: Nicole Ng IT Specialist at LinkedIn

  23. Current Plans & Future • LinkedIn hopes to be the first to digitally map the global economy, with tools to identify connections between people, jobs, skills, companies, and professional knowledge. - CEO Jeff Weiner predicted that global mobile number will hit 50% within the next year, so LinkedIn has launched LinkedIn Intro, a mobile apps that will integrate LinkedIn user profile details directly into the Apple Mail app for iOS. http://www.dailybits.com/wp-content/uploads/2009/12/linkedin-iphone-home.jpg

  24. Conclusion - LinkedIn’s Success “LinkedIn may be the most well known business oriented social network” (Laudon, page 625). Members of linkedin use the site for establishing business contacts and networks. Not only do members use LinkedIn to establish business contacts, employers also use the website to find employees. LinkedIn is one of the most important social networking sites for job searching. Prior to the internet, word of mouth, newspaper ads, and employment agencies were the only way that people could find a job lead. LinkedIn as of October 2012 had stock priced at $112. “LinkedIn has 175 million worldwide members in over 200 countries representing 170 different industries”(Laudon, page 703). http://blogs-images.forbes.com/danschawbel/files/2011/06/linkedin2.jpg

  25. Conclusion - LinkedIn’s Success With future projects such as mapping, the ease of connecting people, jobs, skills, companies, and professional knowledge will be at the touch of a button. LinkedIn continues to be newsworthy not only in the social networking relm but LinkedIn is successfully growing in the B2B category. “The best and most frequent way to reach a business audience is through LinkedIn, 91% of B2B’s marketers use LinkedIn as their distribution channel up from 83% last year. This shows that LinkedIn is quickly going to become the largest B2B social network. http://www.freemake.com/blog/wp-content/uploads/2012/06/linkedin-android-walks.png

  26. References About Us. (n.d.). Retrieved from LinkedIn website:http://www.linkedin.com/ Carey, E. (2011, March 10). What are linkedin's competitors?. Retrieved fromhttp://www.quora.com/LinkedIn-6/What-are-LinkedIns-competitors Goldenberg, J., Oestreicher-Singer, .G, & Reichman Shachar. (2012). The quest for content: How user-generated links can facilitate online exploration. Journal of Marketing Research, XLIX (August 2012), 452-468. Laudon, K. C., & Traver, C. G. (n.d.). E-Commerce 2011 (7th ed.). Pearson Education. Shadkam, M., & O’Hara, J. (2013). Social commerce dimensions: The potential leverage for marketers. Journal of Internet Banking and Commerce, 18(1), 1-14. Trefis. (2013, January 18). What. Retrieved fromhttp://www.forbes.com/sites/greatspeculations/2013/01/18/whats-linkedins-opportunity-in-the-job-postings-market/

  27. References Understanding linkedin business model. (2012, may 16). Retrieved fromhttp://bmimatters.com/2012/05/16/understanding-linkedin-business-model/ Weiner, J. (n.d.). The Future of LinkedIn and the Economic Graph. Retrieved fromhttp://www.linkedin.com/today/post/article/20121210053039-22330283-the-future-of-linkedin-and-the-economic-graph Boxer, B. (n.d.). Don't bet against LinkedIn - it will win a large share of a $44 billion industry. Retrieved from Forbes website:http://www.forbes.com/sites/benjaminboxer/2013/10/31/dont-bet-against-linkedin-it-will-win-a-large-share-of-a-44-billion-industry/

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