LinkedIn becomes second-biggest social networking site in US

LinkedIn Corp, a website focused on job seekers and recruiters, surpassed Myspace to become the No 2 social-networking service in the US last month, boosted by its initial public offering in May.

The company had 33.9 million visitors in June, up 63 per cent from a year earlier, while Myspace had 33.5 million, down 50 per cent, according to a Reston, Virginia-based ComScore Inc report. Facebook Inc remained the largest social- networking site with 160.9 million US visitors, up 14 per cent.

LinkedIn’s IPO raised its profile with investors and helped build publicity around the Mountain View, California-based company. It has posted two straight months of gains, according to ComScore. To keep expanding its user base, LinkedIn is adding features such as a personalised news feed and a visual map that explores how users are connected. Shares of LinkedIn rose $5.62, or 6 per cent, to $99.60 today on the New York Stock Exchange, setting a new high. The May 18 IPO priced the shares at $45.

Twitter was No 4 in the US, with 30.6 million users. That was up 14 per cent from the previous month and a 31 per cent increase from a year earlier, ComScore said.

Once the biggest social network, Myspace has lost ground to Facebook in recent years. Last month, News Corp agreed to sell the business to Specific Media Inc for $35 million, a fraction of the $580 million News Corp paid six years ago.