LinkedIn CEO: We're adding a new user every second

By Julianne Pepitone, staff reporter


SAN FRANCISCO (CNNMoney.com) -- LinkedIn CEO Jeff Weiner spilled some new statistics Wednesday highlighting the business networking site's rapid global growth.

LinkedIn is adding one new user per second, Weiner said, and about half of all new accounts are created overseas. China and Brazil are the fastest growing regions. The site now has 85 million users -- and the latest 1 million signed up within the last nine days.

"On our site it's not about passing the time, it's about saving time," Weiner said at the Web 2.0 Summit in San Francisco. "So we're not looking at the time spent on the site. We have a pretty traditional way of measuring [user engagement]."

That approach to building and serving a member base is very different from Facebook's, conference moderator John Battelle pointed out. Facebook CEO Mark Zuckerberg boasted Tuesday that half of all Facebook users visit the site every day.

"People tend to lump us in with Facebook and Twitter," Weiner replied. "But we're three very different things. Facebook is massive in scale and scope. Twitter is a public communication forum, but if I'm following you, you're not necessarily following me. LinkedIn is, simply, a professional network."

While Facebook users may "friend" people they barely know, and Twitter users can follow celebrities they've never met, LinkedIn pushes people to connect only with people they know well. Those social connections typically track one of three close relationships, Weiner said: personal, family and professional.

"The difference between social sites and business networking can be said in two words: keg stands," Weiner said.

"Or it could be bong hits!" Battelle replied. "Look at Michael Phelps."

"Well, I guess that's the difference between the East and West coasts," Weiner laughed.

Battelle continued to press Weiner for his thoughts on other companies, focusing on the Web search field. Weiner, who was once an executive at Yahoo, said simply: "I don't think the game is over, that it's [Bing] or Google and that's it."

Weiner admitted LinkedIn has lagged behind Facebook and Twitter, especially in building connections to external sites. For example, a Facebook user can "recommend" a CNNMoney article, and a Twitter user can tweet the article link to followers. LinkedIn has only recently begun cultivating such connections. (CNNMoney added a LinkedIn button to its stories last month.)

"We want to work wherever our users are, so we need to push out our connectivity," Weiner said. "We're investing in our APIs so we can get that service to our users. They want it."

Weiner also mentioned LinkedIn Signal, a product the company announced in late September that is still in beta but will go public in about a month. Signal adds Twitter-like capabilities to LinkedIn, letting users view and search status updates in real time.

Like most tech CEOs at the conference, Weiner stayed mum about the possibility of an IPO: "You don't necessarily have to go public to get to the next level." To top of page

Frontline troops push for solar energy
The U.S. Marines are testing renewable energy technologies like solar to reduce costs and casualties associated with fossil fuels. Play
25 Best Places to find rich singles
Looking for Mr. or Ms. Moneybags? Hunt down the perfect mate in these wealthy cities, which are brimming with unattached professionals. More
Fun festivals: Twins to mustard to pirates!
You'll see double in Twinsburg, Ohio, and Ketchup lovers should beware in Middleton, WI. Here's some of the best and strangest town festivals. Play
Index Last Change % Change
Dow 17,279.74 13.75 0.08%
Nasdaq 4,579.79 -13.64 -0.30%
S&P 500 2,010.40 -0.96 -0.05%
Treasuries 2.59 -0.04 -1.60%
Data as of 6:39pm ET
Company Price Change % Change
Yahoo! Inc 40.93 -1.16 -2.74%
Microsoft Corp 47.52 0.84 1.80%
Bank of America Corp... 16.95 -0.09 -0.53%
Oracle Corp 39.80 -1.75 -4.21%
Facebook Inc 77.91 0.91 1.18%
Data as of 4:04pm ET

Sections

Law enforcement officials say Frank Tamayo was the middleman in a $5.6 million insider trading scheme that involved him eating pieces of paper to cover up the crime. More

Scotland's clear rejection of independence has eased fears that it could suffer the kind of decline seen in Quebec after it failed to break away from Canada. More

It's really good to be Larry Ellison. The Oracle founder is stepping down as CEO, so maybe he'll have more time to enjoy his glamorous life. More

As Occupy Wall Street goes on its debt-abolishing tear, thousands of people across the country are begging them to forgive their loans. More

Market indexes are shown in real time, except for the DJIA, which is delayed by two minutes. All times are ET. Disclaimer Morningstar: © 2014 Morningstar, Inc. All Rights Reserved. Disclaimer The Dow Jones IndexesSM are proprietary to and distributed by Dow Jones & Company, Inc. and have been licensed for use. All content of the Dow Jones IndexesSM © 2014 is proprietary to Dow Jones & Company, Inc. Chicago Mercantile Association. The market data is the property of Chicago Mercantile Exchange Inc. and its licensors. All rights reserved. FactSet Research Systems Inc. 2014. All rights reserved. Most stock quote data provided by BATS.