March 7, 2006 1:01 AM PST
LinkedIn to be profitable
Business networking Web site LinkedIn is going to be profitable this month now that it is charging subscription fees, according to a news release from the company scheduled to run on Tuesday. LinkedIn began charging between $60 and $2,000 a year for premium services seven months ago. The company, which received venture capital rounds of $4.7 million and $10 million in 2003 and 2004, will not need further investment to fund operations, the statement said. LinkedIn has begun recommending jobs offered by people their colleagues know and plans to launch new features, free of charge, that will help members get in touch with past co-workers and classmates. The site has 5 million members and expects to double that by the end of the year.
Elinor Mills covers Internet security and privacy. She joined CNET News in 2005 after working as a foreign correspondent for Reuters in Portugal and writing for The Industry Standard, the IDG News Service, and the Associated Press. E-mail Elinor.
