LinkedIn 2013 Annual Report Download - page 2

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27APR201305501200
For Premium Subscriptions, we remain focused on using our data to improve our existing offerings and
build new ones while further reducing churn. We also have begun to invest in Sales Solutions as a core
component of our business, and expect 2014 to be a pivotal year as we develop for greater scale in the
future.
In 2013, our business also saw strong financial results. For the full year 2013, revenue was a record
$1.53 billion, up 57%, and we delivered adjusted EBITDA of $376 million.1 Talent Solutions grew 64% to
$860 million; Marketing Solutions was up 40% to $362 million; and Premium Subscriptions increased 61%
to $307 million.
As we enter 2014, LinkedIn stands at an inflection point. Our mission is to connect the world’s
professionals to make them more productive and successful, but our vision is much larger: to create
economic opportunity for every member of the global workforce.
To do so, we aspire to build the world’s first economic graph, a digital mapping of the global economy,
which will include:
• a profile for every one of the 3 billion members of the global workforce including all of their skills
and expertise;
• a page for every company in the world and a guide to who members know at those companies in
order to help get their foot in the door;
• every job opportunity offered by those companies, full-time and temporary, for profit and
non-profit;
• a representation of every skill required to obtain those opportunities;
• a digital presence for every higher education organization in the world offering those skills;
• and an overlay of all the professionally relevant knowledge shared by each of those individuals,
companies, and universities.
Moving forward, we are committed to making significant, long-term investments in a small number of
strategic initiatives that will allow us to focus on fewer product priorities, while at the same time
continuing to build out the economic graph at scale. Some of those key strategic multi-year initiatives
include:
• The expansion of our presence in China, where today we already have four million members, but
where nearly 1 in 5 of the world’s knowledge workers and students live. To this end, in February
2014 we launched the beta version of our localized site in Simplified Chinese;
• The extension of LinkedIn as a professional publishing platform, which will preserve the exclusivity
and value of the LinkedIn Influencer Program while enabling all members to share professionally
relevant knowledge;
• And over the next several years, a material increase in the volume of job opportunities available on
LinkedIn, and through the acquisition of Bright, improved relevance of those opportunities. As a
result, not only will LinkedIn members be able to find the right jobs, the right jobs will find them.
Sincerely,
Jeffrey Weiner
Chief Executive Officer
LinkedIn Corporation
1To supplement its consolidated financial statements, which are prepared and presented in accordance with GAAP, LinkedIn
uses certain non-GAAP financial measures, including adjusted EBITDA. Net income for 2013 was approximately $26.8 million.
For a full reconciliation of net income and adjusted EBITDA, please see page [ ] of the annual report attached to this letter