The business networking site LinkedIn, which was recently valued at US$1-billion, is currently facing tough competition from more sophisticated start-ups such as Talkbiznow to online networking giants like Facebook, which was valued at about US$15-billion.
Talkbiznow prides itself with its high-tech digital tools that the business world is craving, which includes the ability to hold "Webinars," or online video conferencing through the site, send instant messages, stores files on the site, post a blog, create a calendar and even "nudge" your contacts, similar to Facebook's "Poke" application.
Due to the stiffening competition in the marketplace, LinkedIn has injected US$53-million venture capital funds in June to address the growing demand for sites targeted specifically at business professionals.
In an inquiry made by Forbes.com to a LinkedIn executive about the company's reaction to Talkbiznow.com, the LinkedIn executive responded that:
"Competition is always good, but there is a distinct difference between social networking applications and LinkedIn. People come to LinkedIn because they want to exchange information and ideas, and make better business decisions. We have been able to build up a network of 26 million people worldwide."
As per the latest available data by LinkedIn, it revealed that its online network now has 26 million members, which it took them five years to achieved. They had a 100% growth in membership last year and a 361% growth in page views between April 2007 and April 2008, which means a 361% growth in usage.
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