News Corporation, headed by Rupert Murdoch, owns advertising properties aimed at top-tier professionals
including The Wall Street Journal and (in the UK) The Times and The
Sunday Times and MySpace.
Newspapers are losing advertising money to online advertisers, to make up for this they buy the online social networking sites where the advertising money is now.
LinkedIn is also on an upward growth path which makes it a good
acquisition target. LinkedIn, which has been profitable since March 2006. It has more than 16 million registered users
globally, spanning 150 industries in more than 400 economic regions and
in the last year
it experienced 189% growth.
LinkedIn chairman Reid Hoffman
emailed TechCrunch to say:
“I am being entertained by the same rumors. Our policy
on rumors is “no comment” since in almost everycase [sic.] they
are/have been wrong — but we want to reserve the option of saying no
comment if and when there may be some truth to them. So, no comment on
rumors as always. Have a great turkey day.”
Its biggest competitor globally is Facebook.
Interview with the Daily Telegraph “I would make LinkedIn a public
company – but not until we’ve finished innovating. I find companies are
more innovative when they’re private.”
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