- LinkedIn disclosed that it earned $1.7 billion from premium memberships in the past month.
- COO Dan Shapero stated that LinkedIn’s AI tools contributed to increased conversions.
- LinkedIn, under Microsoft’s ownership, plans to introduce more AI capabilities.
For the first time post its acquisition by Microsoft, LinkedIn shared its revenue from premium memberships.
In 2023, the professional networking platform reported a total of $1.7 billion generated from premium users.
Thanks to the implementation of AI tools, the platform witnessed a 25% year-over-year growth in its client base.
COO Dan Shapero mentioned in a post that over 70% of LinkedIn’s premium users utilize AI tools for composing posts, comments, and receiving profile recommendations.
Initial tests indicate that 90% of subscribers leveraging our AI-powered job assistance feature find it beneficial.
Microsoft revealed in January that LinkedIn’s revenue surged by 9% in the preceding quarter, accompanied by a membership growth of over 20%.
Since Microsoft’s acquisition of LinkedIn for $26.2 billion in 2016, what has been the total profit generated by the platform?
The premium career and premium business plans on LinkedIn are priced at \(29.99 and \)59.99 per month, respectively.
Shapero, a LinkedIn veteran since 2008, hinted at the arrival of more AI capabilities. Business Insider reported Microsoft’s endeavor to introduce AI tools, with senior executives urging engineers to adopt a more innovative approach.
Shapero emphasized, “Anticipate further enhancements from us as we aim to propel your career, business, or job search forward. Leveraging AI, we aspire to boost your success.”
LinkedIn underwent two rounds of layoffs in May and October last year, affecting over 1,400 employees.
Ahead of the layoffs, a peculiar list containing approximately 500 titles surfaced on the private office community Blind over the weekend, leading to unexpected revelations for some employees regarding the October layoffs.
A leaked list of names from GroupID, a third-party distribution list managed by LinkedIn’s HR team, surfaced on Blind.
Despite a request for comment from Business Insider made outside regular business hours, LinkedIn did not respond immediately.
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