The big players of the social networking sites are bigger than they’ve ever been and continuing to grow.
Today LinkedIn went public, the first social networking site to do so. “LinkedIn opened at $83 on the New York Stock Exchange, up 84% from its initial public offering price of $45. It was recently changing hands at $85.99 a share, up 91%, valuing the company at more than 8 billion.”
Sarah Lacy’s TechChrunch article, “Attn Entrepreneurs: Mark Zuckerberg Isn’t the Role Model. Reid Hoffman Is” is on the mark. “You could argue the flaw with LinkedIn was the rational strategy that saved it worked too well. For many people, it became an indispensable tool for certain moments of professional panic, but not something you used daily or even monthly…LinkedIn is one of the only social networks that survived from the first social media frenzy. That’s quite an accomplishment when you think about it.”
LinkedIn might have 1/6th of the members of what Facebook has but it’s been around longer and is a professional networking site. They don’t have an estimated 7.5 million members under the age of 13 years old for the obvious reasons.
The next few days and weeks to come will be very interesting to watch and observe how the social networking giants will play the game.