LinkedIn Opens New Hong Kong Office
LinkedIn, the social network for business professionals, has just announced on its blog that it’s opened an office in Hong Kong, the 9th of which lies in the Asia-Pacific region. Linkedin presently has roughly 25 million members in the region, including Japan, where it also recently opened an office in Tokyo. Hubs were also set up in Bangalore, India and in Melbourne and Perth, Australia. India currently has over 14 million users, and Australia reports over 3 million. Interestingly, roughly 60% of business professionals in Australia use Linkedin.
A Korean-language version of the social network is now online, as well local language sites for Bahasa Indonesia, Bahasa Malaysia. In line with a bid for international growth, Linkedin also opened an office in Spain, and launched versions of the site in Polish, Czech and Dutch. The Hong Kong location marks the 25th office globally, and Linkedin sports over 47 million users at present.
With the rapid expansion, one would think that LinkedIn would be more than barely profitable. The company posted a revenue of $522 million for 2011, though it also hired 531 new sales and marketing professionals, and saw a net income last year of $26 million. Still, expansion costs money. LinkedIn’s take on the matter – “We plan to continue to invest heavily in sales and marketing to expand our global footprint, grow our current customer accounts and continue building brand awareness. In the near term and consistent with our investment philosophy for 2011, we expect sales and marketing expenses to increase on an absolute basis and as a percentage of revenue and to be our largest expense on an absolute basis and as a percentage of revenue.”