Boston, MA 07/05/2013 (wallstreetpr) – After all the ups and downs, this social media group has finally touched the silver line by outperforming Apple, Inc. by 50%. Since people started selling Apple shares and investing the proceeds to buy LinkedIn shares, the growth rate of LNKD raised the bar for those investors, making Apple lose the battle.
The current price of LinkedIn Corp (NYSE:LNKD) reflects its current financial status, along with Wall Street’s future expectations. Mary Meeker, a former Wall Street analyst, made a comment on LNKD stating it is a “standout” amongst various other internet companies.
LinkedIn Corp (NYSE:LNKD) has steadily grown in market share, with an increasing user base and gross margins.
The founders of the existing company come from Yahoo, Social net and PayPal among others. LinkedIn is an online portal for corporate communication and professional occupations. It has more than a 225 million user base across 201 countries worldwide. The number of members grows by 2 every second. India has more than 3000 million users and growing at a fast pace, with Europe covering 11 million users and the US half of it.
The companyissuedits first initial public offering in late 2011 with a market price of $45 per share under the NYSE symbol “LNKD”. In 2012, the share price soared to approximately $94.25. OnJune 12th, 2012, the cryptographic hashes of passwords belonging to about 6.4 million LinkedIn users were stolen by hackers, who published them online. As a measure against this loss, LinkedIn requested from its users to change their passwords as soon as possible. This led Linkedin to face the criticism of the Security experts for not salting the files that included the passwords.
A positive development regarding the company is that it restricts the number of invites users send to renowned people with the purpose of adding them as connections. If the receiver chooses the ‘I don’t know’ option, the invite is perceived as spam, and if a lot of such invites are sent by a user, he or she is restricted or closed.
LinkedIn also maintains its mobile apps accessible through the Android, Windows and iOS phones.