India Internet News
LinkedIn surpasses MySpace in top US social networking site list
11 July 2011
LinkedIn, a well-known website dedicated to job seekers and recruiters, becomes the second largest social networking website in US last month, defeating MySpace, with the support of its initial public offering in May.
The company noticed 33.9 million visitors in June which is 63% more when compared to last year, whereas MySpace measured 33.5 million which is 50% less, based on Reston, Virginia-based ComScore report. However, Facebook still remains to the No.1 largest social networking website with 160.9 million US visitors which is 14% more.
The IPO of LinkedIn rose its profile from investors to help them build publicity around the Mountain View, California-based company. According on ComScore, it has marked two consecutive months of gains.
In order to keep expanding its user count, LinkedIn is adding features including a personalized news feed and a visual map that deals with how users are connected. LinkedIn shares rose a new height from $5.62, or 6%, to $99.60 on Saturday on the New York Stock Exchange. In May 18, the IPO priced the shares at $45.
On the other hand, Twitter was at 4th position in the US with 30.6 million users. This was 14% more from the previous month and 31% more from a year earlier according to ComScore. News Corporation agreed, last month, to sell MySpace to Specific Media for $35 million which is a very less that fraction News Corporation paid six years ago, i.e. $580 million.