Professional Networking site, LinkedIn has setup operations in India which would be lead by MySpace India Head, Mr. Hari V. Krishnan . With 3.2 million users from the 52million global share, India is definietly the fastest growing market for LinkedIn with 70,000 new users every week.
With the experience of working in TravelGuru.in, MySpace and Yahoo India , Krishnan will focus on the business model for LinkedIn comprising user subscriptions, ad sales and enterprise software licensing in India. Currently, the company has over 60 advertisers in India that include brands such as GM, Microsoft and Tanishq. Among its member community, almost half-a-million are from technology and services companies, 350,000 are computer software professionals and just over a lakh are from telecom companies.
Companies are increasingly using the online networking media to hunt young talent, generate business leads, advertise and also to understand user trends. Experts reckon there could be 15-20% hike in hires from social networking media in the coming years. Its also seen users using social networking media, such as LinkedIn, Facebook and MySpace, to update professional profiles, network informally and socialize online.