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LINKEDIN RELEASES SERVICES MARKETPLACE FOR HIRING OF FREELANCERS

LinkedIn reported to TechCrunch that it has taken the wraps off its Service Marketplace, enabling it for everyone. The offering aims to match freelancers with jobs and will compete against Fiverr International Ltd. (NYSE: FVRR) and Upwork Inc. (NASDAQ: UPWK). The Service Marketplace was launched as a test this year in a beta version and gained 2 million users.

LinkedIn revenue was up 42% year over year in its fiscal first quarter to $3.14 billion — an increase of 39% in constant currency — according to Microsoft Inc.’s earnings report released Tuesday. The company’s fiscal first quarter ended Sept. 30.

LinkedIn now has nearly 800 million members.

Microsoft CFO Amy Hood did not mention the Services Marketplace in a call with investors yesterday; however, she reported that a strong job market and continued engagement on the LinkedIn platform should result in revenue growth in the 30% range in the company’s fiscal second quarter.


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