Daily Archives: June 18, 2008

LinkedIn has got it’s act together

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Yep, LinkedIn does have its act together…Except for today, since they have been down for over 2 hours. But having said that, I’m sure the 23 million plus members will let them slide. Especially since it has now been valued at over $1billion! Watch this video and listen carefully. You may understand the thinking that goes into investing in some of the hottest social media companies out there today.

With 23 million members in 150 countries, more than half overseas, LinkedIn has said it could generate as much as $100 million in revenue this year from premium subscriptions, blue-chip advertisers, job listings and corporate services. It’s all part of a massive shift, dubbed Enterprise 2.0, as corporate America increasingly turns to the Web for software and services.

LinkedIn boasts that it averages a new user every two seconds. Research firm Nielsen Online reports that LinkedIn is pulling in 146% more unique visitors year over year.

In May, it was the fourth-most-popular social network, with 7.7 million U.S. visitors. Its audience stats are the kind that impress advertisers as well: The average user is 41 years old and makes about $110,000 a year.

 

Twebinar: Where twitter meets webinar

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Next week, Thursday, the 26th, some of social media’s best and brightest come together to wax poetic about all things social in the form of a twebinar, which is essentially a webinar and Twitter mash-up. The conversations take place in real-time before, during and after the webinar, on Twitter.

To enter the Twebinar

 

  1. Make sure you have a twitter account, don’t worry it’s simple. Next, Sign-up for a webinar on a topic that interests you.
  2. On the day of the webinar, watch the presentation from your computer and receive information visually and verbally from the presenter(s).
  3. During the webinar, a parallel conversation takes place as participants comment, ask questions, and/or discuss the webinar series on Twitter. Follow the webinar participants on Twitter and join the conversation.
  4. Gather ideas and/or resources from a community of people with interests that are similar to yours.
  5. The result? Ta Da…. A twebinar!
  6. Learn some things about yourself, others, your industry, and perhaps how it all comes full circle in social media.

How social networks might make money, virtual goods.

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Will selling goods be the answer for social networks?

Brian Oneill says that If you take a look at social networks in Asia, they are all monetizing their sites primarily through social goods. For instance, 51.com, which recently raised a $50 million round, earns 70 percent of their revenue through virtual goods.

I’ve written in the past about monetizing social nets and the challenges that the smaller players will face. Unfortunately, I’m afraid that if your revenue models are tied into advertisers, you may be looking at a light at the end of the tunnel attached to a train. So we talked about this over a year ago, and it’s been written about a lot back then, and still. So what has changed? Nothing.

Social Nets have to sell something other than subscriptions and ad space.  So what is it? Virtual Goods,

Susan Wu, a principal at Charles River Ventures says that people spend real money on virtual objects for  four major reasons:

Virtual objects aren’t really objects – they’re services

Virtual objects create real value for people

The cost of buying objects can be cheaper than “earning” them and lastly, and the most important,

You can make money off of virtual objects.

I would suggest all  those who are “thinking” of  jumping into the social media tech start up game to read the full article by Susan, though it came out roughly a year ago to the day, it is now more relevant than ever before.