LinkedIn is the world’s largest professional online network with more than 106 million monthly active members. Most employers today search for applicant accounts on LinkedIn after receiving CVs. Virtual presence on LinkedIn has become a must for professionals, employers and employees alike. LinkedIn has also found its place on an academic level. In 2016, high schools in the US began teaching students to make LinkedIn accounts for college admissions.
While BrainStatistics found 7 out of 10 startups fail in 10 years, LinkedIn beat the odds and survived the high-mortality period. Launched in 2003, the networking service was acquired by Microsoft at $26 billion in 2016.
At the time of its launch, billion-dollar startups were considered a myth. All of this makes LinkedIn’s story the modern tale of a unicorn.
According to CBS Insights, there are currently 393 unicorn companies valued over $1 billion. with a cumulative value of $1,217 billion (doubled in the past 2 years). Among these companies are known giants such as Uber, Airbnb, Spotify, Dropbox, Buzzfeed and others. The days of the mythical horse are over. Unicorns have evolved and they’re even more precious than before.
While unicorn companies are growing, investors still consider some of these companies to be unreasonably over-valued. An example of this is Uber, which is valued at $72 billion, estimated to be a higher valuation than the entire global taxi market. Uber now expects that its valuation at IPO will be approximately $91 billion which many experts continue to claim that it is overvalued due to actual market size, Uber has been operating in the red in recent years, among other reasons.
Despite these claims, unicorns are booming and continue to generate profit. Unicorn stocks are at an all-time high, and valuations are marking significant digits, making the startup industry one of the most profitable in our era.