Linked In, the new social network, is growing fast and furious. The 300-person company showcases its entrepreneurial motif, allowing friends and colleagues to network on its site. It is free for general use and charges a nominal fee for building an extensive network of folks.
Be on the look-out for Facebook, NY Times, or perhaps Google buying Linked In. For now, Dan Nye, the Chief Executive, is content with growing steadily. They have finally seen a profit this year and expect revenues to hit $100 million by next year. A public offering may be around the corner, and this might be a good bet.
What separates Linked In? Besides its business focus, it will soon allow programmers to have an open source way to build upon its platform. Linked In will have the final say on if the development is going to make it for everyone to see, but it is a smart move. This is the trend, as Apple is showing with its 3G iPhone – to open up its source to allow third-party programmers to expand and improve upon its code. It’s basically like having free help from brainy programmers to improve your site’s look. And without having to pay for the tech support!