LinkedIn is the fastest growing tech company in the United States, according to statistics portal Statista. The popular professional contact network site almost doubled its revenue growth since last year with a 94% increase.
On the second quarter of 2012, LinkedIn garnered a record 89% increase on revenue with $228.2 million. Hiring solutions revenue was more than doubled with a 107 percent increase equating to $121.6 million.
Experts, however, are not surprised by this trend. They said the company is still small compared to most established companies on the list. Hence, it has more opportunities to grow its revenue. This only shows that LinkedIn has yet to reach its maximum allowable revenue, which in the case of the likes of Facebook, Google and Apple is measured in billions.
LinkedIn started on May 5, 2003 and after a month had 4,500 members. As of August 2012 the community has grown to 175 million members spread across over 200 countries. According to the company, the LinkedIn community grows rapidly over the past years with two members added every second.
In the world of tech companies Apple, Google and Facebok are very dominant. Apple is considered the largest company in the world with a high $341 billion value during last week’s stock market evaluation. Apple surpassed the value of oil company giant Exxon Mobil. Google remains steadily as the preferred search engine with nearly two-thirds of its share of Internet users. Facebook has the most number of users in the social media realm.