Today in Social

In the wake of Facebook and Zynga, there’s at least one social tech company that’s pleasing Wall Street. (Yelp is doing okay, too.) LinkedIn’s Q2 revenue grew 89 percent to $228 million, and Wall Street applauded. Some commented that LinkedIn is less dependent on advertising than many social media companies, but even its ad business looked healthy, showing over 60 percent growth to $63 million. Here’s how it is pitching ads these days. As usual, hiring solutions led the way, more than doubling to $122 million. Paid subscriptions were also up 80 percent to $44 million. I’d still like to see LinkedIn become less dependent on hiring and recruiting – a lot of its ad business ties in – perhaps by building out its network as a marketplace for selling business services. It’s a strong player in identity management – for professional identities, anyway – but that’s more of a customer lock-in than a direct revenue opportunity.