Enterprise 2.0 moved and developed Web 2.0 tools and technologies into the workplace. It enables business communities of suppliers, partners, employees and customers to harness the potential of social websites for like-minded people to share information. These Web-based customer communities, focused around a brand or a set of products and services, come together and interact online. It takes the original concept of the Web to feed content and instead of a one-way dialogue, allows communities to converse, comment and share information using forums, blogs and social networking in a business environment.
UKOCN fits this model perfectly and brings together the tried and trusted methods of social networks with the more demanding needs of a professional group within a business community (i.e. the Oracle Community). It is flexible enough to adjust and evolve its services as the markets and business environment change and adapt accordingly.
Whilst the global economic downturn is beginning to bite in Silicon Valley, Hoffman sees this as an opportunity. In the area of recruitment he has adjusted some of the Linkedin services to help jobless executives find temporary contract and consulting work. Linkedin expanded into an advice service and recruitment companies now buy subscriptions to enable them to go hunting for job candidates.
Linkedin is profitable and is valued at $1 Billion. In October it had its best month when 1.8m new members joined - it has 2m members in Britain alone. It currently has 31m members and a third of these 'check-in' to the site every month. It derives most of its revenues from corporate subscriptions and individuals paying to search data. On-line advertising is slowing but the business is fortunate that only 25% of its revenue is from this source. "Their simple aim is to recruit one in four of the world's population: anyone aged 22 to 65 with an eye on their career." To help achieve this aim, Linkedin has just launched a French local language version.
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