Chief executive officer
The chief executive officer or just chief executive, is the most senior corporate, executive, or administrative officer in charge of managing an organization – an independent legal entity such as a company or nonprofit institution. CEOs lead a range of organizations, including public and private corporations, non-profit organizations and some government organizations; the CEO of a corporation or company reports to the board of directors and is charged with maximizing the value of the entity, which may include maximizing the share price, market share, revenues or another element. In the non-profit and government sector, CEOs aim at achieving outcomes related to the organization's mission, such as reducing poverty, increasing literacy, etc. In the early 21st century, top executives had technical degrees in science, engineering or law; the responsibility of an organization's CEO are set by the organization's board of directors or other authority, depending on the organization's legal structure.
They can be far-reaching or quite limited and are enshrined in a formal delegation of authority. Responsibilities include being a decision maker on strategy and other key policy issues, leader and executor; the communicator role can involve speaking to the press and the rest of the outside world, as well as to the organization's management and employees. As a leader of the company, the CEO or MD advises the board of directors, motivates employees, drives change within the organization; as a manager, the CEO/MD presides over the organization's day-to-day operations. The term refers to the person who makes all the key decisions regarding the company, which includes all sectors and fields of the business, including operations, business development, human resources, etc; the CEO of a company is not the owner of the company. In some countries, there is a dual board system with two separate boards, one executive board for the day-to-day business and one supervisory board for control purposes. In these countries, the CEO presides over the executive board and the chairman presides over the supervisory board, these two roles will always be held by different people.
This ensures a distinction between management by the executive board and governance by the supervisory board. This allows for clear lines of authority; the aim is to prevent a conflict of interest and too much power being concentrated in the hands of one person. In the United States, the board of directors is equivalent to the supervisory board, while the executive board may be known as the executive committee. In the United States, in business, the executive officers are the top officers of a corporation, the chief executive officer being the best-known type; the definition varies. In the case of a sole proprietorship, an executive officer is the sole proprietor. In the case of a partnership, an executive officer is a managing partner, senior partner, or administrative partner. In the case of a limited liability company, executive officer is any manager, or officer. A CEO has several subordinate executives, each of whom has specific functional responsibilities referred to as senior executives, executive officers or corporate officers.
Subordinate executives are given different titles in different organizations, but one common category of subordinate executive, if the CEO is the president, is the vice-president. An organization may have more than one vice-president, each tasked with a different area of responsibility; some organizations have subordinate executive officers who have the word chief in their job title, such as chief operating officer, chief financial officer and chief technology officer. The public relations-focused position of chief reputation officer is sometimes included as one such subordinate executive officer, but, as suggested by Anthony Johndrow, CEO of Reputation Economy Advisors, it can be seen as "simply another way to add emphasis to the role of a modern-day CEO – where they are both the external face of, the driving force behind, an organisation culture". In the US, the term chief executive officer is used in business, whereas the term executive director is used in the not-for-profit sector; these terms are mutually exclusive and refer to distinct legal duties and responsibilities.
Implicit in the use of these titles, is that the public not be misled and the general standard regarding their use be applied. In the UK, chief executive and chief executive officer are used in both business and the charitable sector; as of 2013, the use of the term director for senior charity staff is deprecated to avoid confusion with the legal duties and responsibilities associated with being a charity director or trustee, which are non-executive roles. In the United Kingdom, the term director is used instead of chief officer". Business publicists since the days of Edward Bernays and his client John D. Rockefeller and more the corporate publicists for Henry Ford, promoted the concept of the "celebrity CEO". Business journalists have adopted this approach, which assumes that the corporate achievements in the arena of manufacturing, wer
An organization or organisation is an entity comprising multiple people, such as an institution or an association, that has a particular purpose. The word is derived from the Greek word organon, which means tool or instrument, musical instrument, organ. There are a variety of legal types of organisations, including corporations, non-governmental organisations, political organisations, international organisations, armed forces, not-for-profit corporations, partnerships and educational institutions. A hybrid organisation is a body that operates in both the public sector and the private sector fulfilling public duties and developing commercial market activities. A voluntary association is an organisation consisting of volunteers; such organisations may be able to operate without legal formalities, depending on jurisdiction, including informal clubs. Organisations may operate secretly or illegally in the case of secret societies, criminal organisations and resistance movements. Compare the concept of social groups, which may include non-organizations.
The study of organisations includes a focus on optimising organisational structure. According to management science, most human organisations fall into four types: Committees or juries Ecologies Matrix organisations Pyramids or hierarchies These consist of a group of peers who decide as a group by voting; the difference between a jury and a committee is that the members of the committee are assigned to perform or lead further actions after the group comes to a decision, whereas members of a jury come to a decision. In common law countries, legal juries render decisions of guilt and quantify damages. Sometimes a selection committee functions like a jury. In the Middle Ages, juries in continental Europe were used to determine the law according to consensus among local notables. Committees are the most reliable way to make decisions. Condorcet's jury theorem proved that if the average member votes better than a roll of dice adding more members increases the number of majorities that can come to a correct vote.
The problem is that if the average member is subsequently worse than a roll of dice, the committee's decisions grow worse, not better. Parliamentary procedure, such as Robert's Rules of Order, helps prevent committees from engaging in lengthy discussions without reaching decisions; this organisational structure promotes internal competition. Inefficient components of the organisation starve. Everybody is paid for what they do, so runs a tiny business that has to show a profit, or they are fired. Companies who utilise this organisation type reflect a rather one-sided view of what goes on in ecology, it is the case that a natural ecosystem has a natural border - ecoregions do not, in general, compete with one another in any way, but are autonomous. The pharmaceutical company GlaxoSmithKline talks about functioning as this type of organisation in this external article from The Guardian. By:Bastian Batac De Leon; this organisational type assigns each worker two bosses in two different hierarchies. One hierarchy is "functional" and assures that each type of expert in the organisation is well-trained, measured by a boss, super-expert in the same field.
The other direction tries to get projects completed using the experts. Projects might be organised by products, customer types, or some other schemes; as an example, a company might have an individual with overall responsibility for products X and Y, another individual with overall responsibility for engineering, quality control, etc. Therefore, subordinates responsible for quality control of project X will have two reporting lines. A hierarchy exemplifies an arrangement with a leader who leads other individual members of the organisation; this arrangement is associated with basis that there are enough imagine a real pyramid, if there are not enough stone blocks to hold up the higher ones, gravity would irrevocably bring down the monumental structure. So one can imagine that if the leader does not have the support of his subordinates, the entire structure will collapse. Hierarchies were satirised in The Peter Principle, a book that introduced hierarchiology and the saying that "in a hierarchy every employee tends to rise to his level of incompetence."
In the social sciences, organisations are the object of analysis for a number of disciplines, such as sociology, political science, psychology and organisational communication. The broader analysis of organisations is referred to as organisational structure, organisational studies, organisational behaviour, or organisation analysis. A number of different perspectives exist, some of which are compatible: From a functional perspective, the focus is on how entities like businesses or state authorities are used. From an institutional perspective, an organisation is viewed as a purposeful structure within a social context. From a process-related perspective, an organisation is viewed as an entity is being organised, the focus is on the organisation as a set of tasks or actions. Sociology can be defined as the science of the institutions of modernity. In the social and political sciences in general, an "organisation" may be more loosely understood as the planned and purposeful action of human beings working through collective action to reach a common goal or construct a tangible product.
This action is framed by formal membership and form (in
A television show is any content produced for broadcast via over-the-air, cable, or internet and viewed on a television set, excluding breaking news, advertisements, or trailers that are placed between shows. Television shows are most scheduled well ahead of time and appear on electronic guides or other TV listings. A television show might be called a television program if it lacks a narrative structure. A television series is released in episodes that follow a narrative, are divided into seasons or series – yearly or semiannual sets of new episodes. A show with a limited number of episodes may be called serial, or limited series. A one-time show may be called a "special". A television film is a film, broadcast on television rather than released in theaters or direct-to-video. Television shows can be viewed as they are broadcast in real time, be recorded on home video or a digital video recorder for viewing, or be viewed on demand via a set-top box or streamed over the internet; the first television shows were experimental, sporadic broadcasts viewable only within a short range from the broadcast tower starting in the 1930s.
Televised events such as the 1936 Summer Olympics in Germany, the 1937 coronation of King George VI in the UK, David Sarnoff's famous introduction at the 1939 New York World's Fair in the US spurred a growth in the medium, but World War II put a halt to development until after the war. The 1947 World Series inspired many Americans to buy their first television set and in 1948, the popular radio show Texaco Star Theater made the move and became the first weekly televised variety show, earning host Milton Berle the name "Mr Television" and demonstrating that the medium was a stable, modern form of entertainment which could attract advertisers; the first national live television broadcast in the US took place on September 4, 1951 when President Harry Truman's speech at the Japanese Peace Treaty Conference in San Francisco was transmitted over AT&T's transcontinental cable and microwave radio relay system to broadcast stations in local markets. The first national color broadcast in the US occurred on January 1, 1954.
During the following ten years most network broadcasts, nearly all local programming, continued to be in black-and-white. A color transition was announced for the fall of 1965, during which over half of all network prime-time programming would be broadcast in color; the first all-color prime-time season came just one year later. In 1972, the last holdout among daytime network shows converted to color, resulting in the first all-color network season. Television shows are more varied than most other forms of media due wide variety formats and genres that can be presented. A show may non-fictional, it may be historical. They could be instructional or educational, or entertaining as is the case in situation comedy and game shows. A drama program features a set of actors playing characters in a historical or contemporary setting; the program follows their adventures. Except for soap opera-type serials, many shows before the 1980s, remained static without story arcs, the main characters and premise changed little.
If some change happened to the characters' lives during the episode, it was undone by the end. Because of this, the episodes could be broadcast in any order. Since the 1980s, there are many series that feature progressive change to the plot, the characters, or both. For instance, Hill Street Blues and St. Elsewhere were two of the first American prime time drama television series to have this kind of dramatic structure. While the series, Babylon 5 is an extreme example of such production that had a predetermined story running over its intended five-season run. In 2012, it was reported that television was growing into a larger component of major media companies' revenues than film; some noted the increase in quality of some television programs. In 2012, Academy-Award-winning film director Steven Soderbergh, commenting on ambiguity and complexity of character and narrative, stated: "I think those qualities are now being seen on television and that people who want to see stories that have those kinds of qualities are watching television."
When a person or company decides to create a new series, they develop the show's elements, consisting of the concept, the characters, the crew, cast. They "pitch" it to the various networks in an attempt to find one interested enough to order a prototype first episode of the series, known as a pilot. Eric Coleman, an animation executive at Disney, told an interviewer, "One misconception is that it's difficult to get in and pitch your show, when the truth is that development executives at networks want much to hear ideas, they want much to get the word out on what types of shows they're looking for."To create the pilot, the structure and team of the whole series must be put together. If audiences respond well to the pilot, the network will pick up the show to air it the next season. Sometimes they save it for mid-season, or father review. Other times, they pass forcing the show's creator to "shop it around" to other networks. Many shows never make it past the pilot stage; the show hires a stable of writers, who usually
Netflix, Inc. is an American media-services provider headquartered in Los Gatos, founded in 1997 by Reed Hastings and Marc Randolph in Scotts Valley, California. The company's primary business is its subscription-based streaming OTT service which offers online streaming of a library of films and television programs, including those produced in-house; as of January 2019, Netflix had over 139 million paid subscriptions worldwide, including 60.55 million in the United States, over 148 million subscriptions total including free trials. It is available worldwide except in mainland China as well as Syria, North Korea and Crimea; the company has offices in the Netherlands, India and South Korea. Netflix is a member of the Motion Picture Association of America. Netflix's initial business model included DVD sales and rental by mail, but Hastings abandoned the sales about a year after the company's founding to focus on the DVD rental business. Netflix expanded its business in 2007 with the introduction of streaming media while retaining the DVD and Blu-ray rental service.
The company expanded internationally in 2010 with streaming available in Canada, followed by Latin America and the Caribbean. Netflix entered the content-production industry in 2012. Since 2012, Netflix has taken more of an active role as producer and distributor for both film and television series, to that end, it offers a variety of "Netflix Original" content through its online library. By January 2016, Netflix services operated in more than 190 countries. Netflix released an estimated 126 original series and films in 2016, more than any other network or cable channel, their efforts to produce new content, secure the rights for additional content, diversity through 190 countries have resulted in the company racking up billions in debt: $21.9 billion as of September 2017, up from $16.8 billion from the previous year. $6.5 billion of this is long-term debt. In October 2018, Netflix announced it would raise another $2 billion in debt to help fund new content. Netflix was founded on August 29, 1997, in Scotts Valley, California, by Marc Randolph and Reed Hastings.
Randolph worked as a marketing director for Pure Atria. Randolph was a co-founder of MicroWarehouse, a computer mail order company, was employed by Borland International as vice president of marketing. Hastings, a computer scientist and mathematician, sold Pure Atria to Rational Software Corporation in 1997 for $700 million in what was the biggest acquisition in Silicon Valley history, they came up with the idea for Netflix while commuting between their homes in Santa Cruz and Pure Atria's headquarters in Sunnyvale while waiting for government regulators to approve the merger, although Hasting has given several different explanations for how the idea was created. Hastings invested $2.5 million in startup cash for Netflix. Randolph admired the fledgling e-commerce company Amazon and wanted to find a large category of portable items to sell over the Internet using a similar model, they rejected VHS tapes as too expensive to stock and too delicate to ship. When they heard about DVDs, which were first introduced in the United States on March 31, 1997, they tested the concept of selling or renting DVDs by mail, by mailing a compact disc to Hastings' house in Santa Cruz.
When the disc arrived intact, they decided to take on the $16 billion home video sales and rental industry. Hastings is quoted saying that he decided to start Netflix after being fined $40 at a Blockbuster store for being late to return a copy of Apollo 13, but this is an apocryphal story that he and Randolph designed to explain the company's business model and motivation. Netflix was launched on April 14, 1998, as the world's first online DVD rental store, with only 30 employees and 925 titles available, the entire catalogue of DVDs in print at the time, through the pay-per-rent model with rates and due dates that were similar to its bricks-and-mortar rival, Blockbuster. Netflix introduced the monthly subscription concept in September 1997, dropped the multiple-rental model in early 2000. Since that time, the company has built its reputation on the business model of flat-fee unlimited rentals without due dates, late fees and handling fees, or per-title rental fees. In 2000, when Netflix had just about 300,000 subscribers and relied on the U.
S. Postal Service for the delivery of their DVDs, they were losing money and offered to be acquired by Blockbuster for $50 million, they proposed that Netflix, which would be renamed as Blockbuster.com, would handle the online business, while Blockbuster would take care of the DVDs, making them less dependent on the U. S. Postal Service; the offer was declined. While they experienced fast growth in early 2001, both the dot-com bubble burst and the September 11 attacks would occur that year, affecting the company badly and forcing them to lay off a third of their employees. However, sales of Apple products took off as they became more affordable, selling for about $2,000 around Thanksgiving time, becoming one of that year's most popular Christmas gifts. By early 2002, Netflix saw a huge increase in business from rental to laptop DVD users. Netflix initiated an initial public offering on May 29, 2002, selling 5.5 million shares of common stock at the price of US$15.00 per share. On June 14, 2002, the company sold an additional 825,000 shares of common stock at the same price.
After incurring substantial losses during its first few years, Netflix posted its first profit during fiscal year 2003, earning US$6.5 million profit on revenues of
A brand is an overall experience of a customer that distinguishes an organization or product from its rivals in the eyes of the customer. Brands are used in business and advertising. Name brands are sometimes distinguished from generic or store brands; the practice of branding is thought to have begun with the ancient Egyptians, who were known to have engaged in livestock branding as early as 2,700 BCE. Branding was used to differentiate one person’s cattle from another's by means of a distinctive symbol burned into the animal’s skin with a hot branding iron. If a person stole any of the cattle, anyone else who saw the symbol could deduce the actual owner. However, the term has been extended to mean a strategic personality for a product or company, so that ‘brand’ now suggests the values and promises that a consumer may perceive and buy into. Over time, the practice of branding objects extended to a broader range of packaging and goods offered for sale including oil, wine and fish sauce. Branding in terms of painting a cow with symbols or colors at flea markets was considered to be one of the oldest forms of the practice.
Branding is a set of marketing and communication methods that help to distinguish a company or products from competitors, aiming to create a lasting impression in the minds of customers. The key components that form a brand's toolbox include a brand’s identity, brand communication, brand awareness, brand loyalty, various branding strategies. Many companies believe that there is little to differentiate between several types of products in the 21st century, therefore branding is one of a few remaining forms of product differentiation. Brand equity is the measurable totality of a brand's worth and is validated by assessing the effectiveness of these branding components; as markets become dynamic and fluctuating, brand equity is a marketing technique to increase customer satisfaction and customer loyalty, with side effects like reduced price sensitivity. A brand is, in essence, a promise to its customers of what they can expect from products and may include emotional as well as functional benefits.
When a customer is familiar with a brand, or favours it incomparably to its competitors, this is when a corporation has reached a high level of brand equity. Special accounting standards have been devised to assess brand equity. In accounting, a brand defined as an intangible asset, is the most valuable asset on a corporation’s balance sheet. Brand owners manage their brands to create shareholder value, brand valuation is an important management technique that ascribes a monetary value to a brand, allows marketing investment to be managed to maximize shareholder value. Although only acquired brands appear on a company's balance sheet, the notion of putting a value on a brand forces marketing leaders to be focused on long term stewardship of the brand and managing for value; the word ‘brand’ is used as a metonym referring to the company, identified with a brand. Marque or make are used to denote a brand of motor vehicle, which may be distinguished from a car model. A concept brand is a brand, associated with an abstract concept, like breast cancer awareness or environmentalism, rather than a specific product, service, or business.
A commodity brand is a brand associated with a commodity. The word, derives from its original and current meaning as a firebrand, a burning piece of wood; that word comes from the Old High German and Old English byrnan and brinnan via Middle English as birnan and brond. Torches were used to indelibly mark items such as furniture and pottery, to permanently burn identifying marks into the skin of slaves and livestock; the firebrands were replaced with branding irons. The marks themselves took on the term and came to be associated with craftsmen's products. Through that association, the term acquired its current meaning. Branding and labelling have an ancient history. Branding began with the practice of branding livestock in order to deter theft. Images of the branding of cattle occur in ancient Egyptian tombs dating to around 2,700 BCE. Over time, purchasers realised that the brand provided information about origin as well as about ownership, could serve as a guide to quality. Branding was adapted by farmers and traders for use on other types of goods such as pottery and ceramics.
Forms of branding or proto-branding emerged spontaneously and independently throughout Africa and Europe at different times, depending on local conditions. Seals, which acted as quasi-brands, have been found on early Chinese products of the Qin Dynasty. Identity marks, such as stamps on ceramics, were used in ancient Egypt. Diana Twede has argued that the "consumer packaging functions of protection and communication have been necessary whenever packages were the object of transactions", she has shown that amphorae used in Mediterranean trade between 1,500 and 500 BCE exhibited a wide variety of shapes and markings, which consumers used to glean information about the type of goods and the quality. Systematic use of stamped labels dates from around the fourth century BCE. In a pre-literate society, the shape of the amphora and its pictorial markings conveyed information about the contents, region of o
Broadcasting is the distribution of audio or video content to a dispersed audience via any electronic mass communications medium, but one using the electromagnetic spectrum, in a one-to-many model. Broadcasting began with AM radio, which came into popular use around 1920 with the spread of vacuum tube radio transmitters and receivers. Before this, all forms of electronic communication were one-to-one, with the message intended for a single recipient; the term broadcasting evolved from its use as the agricultural method of sowing seeds in a field by casting them broadly about. It was adopted for describing the widespread distribution of information by printed materials or by telegraph. Examples applying it to "one-to-many" radio transmissions of an individual station to multiple listeners appeared as early as 1898. Over the air broadcasting is associated with radio and television, though in recent years, both radio and television transmissions have begun to be distributed by cable; the receiving parties may include the general public or a small subset.
The field of broadcasting includes both government-managed services such as public radio, community radio and public television, private commercial radio and commercial television. The U. S. Code of Federal Regulations, title 47, part 97 defines "broadcasting" as "transmissions intended for reception by the general public, either direct or relayed". Private or two-way telecommunications transmissions do not qualify under this definition. For example and citizens band radio operators are not allowed to broadcast; as defined, "transmitting" and "broadcasting" are not the same. Transmission of radio and television programs from a radio or television station to home receivers by radio waves is referred to as "over the air" or terrestrial broadcasting and in most countries requires a broadcasting license. Transmissions using a wire or cable, like cable television, are considered broadcasts but do not require a license. In the 2000s, transmissions of television and radio programs via streaming digital technology have been referred to as broadcasting as well.
The earliest broadcasting consisted of sending telegraph signals over the airwaves, using Morse code, a system developed in the 1830s by Samuel F. B. Morse, physicist Joseph Henry and Alfred Vail, they developed an electrical telegraph system which sent pulses of electric current along wires which controlled an electromagnet, located at the receiving end of the telegraph system. A code was needed to transmit natural language using only these pulses, the silence between them. Morse therefore developed the forerunner to modern International Morse code; this was important for ship-to-ship and ship-to-shore communication, but it became important for business and general news reporting, as an arena for personal communication by radio amateurs. Audio broadcasting began experimentally in the first decade of the 20th century. By the early 1920s radio broadcasting became a household medium, at first on the AM band and on FM. Television broadcasting started experimentally in the 1920s and became widespread after World War II, using VHF and UHF spectrum.
Satellite broadcasting was initiated in the 1960s and moved into general industry usage in the 1970s, with DBS emerging in the 1980s. All broadcasting was composed of analog signals using analog transmission techniques but in the 2000s, broadcasters have switched to digital signals using digital transmission. In general usage, broadcasting most refers to the transmission of information and entertainment programming from various sources to the general public. Analog audio vs. HD Radio Analog television vs. Digital television WirelessThe world's technological capacity to receive information through one-way broadcast networks more than quadrupled during the two decades from 1986 to 2007, from 432 exabytes of information, to 1.9 zettabytes. This is the information equivalent of 55 newspapers per person per day in 1986, 175 newspapers per person per day by 2007. There have been several methods used for broadcasting electronic media audio and video to the general public: Telephone broadcasting: the earliest form of electronic broadcasting.
Telephone broadcasting began with the advent of Théâtrophone systems, which were telephone-based distribution systems allowing subscribers to listen to live opera and theatre performances over telephone lines, created by French inventor Clément Ader in 1881. Telephone broadcasting grew to include telephone newspaper services for news and entertainment programming which were introduced in the 1890s located in large European cities; these telephone-based subscription services were the first examples of electrical/electronic broadcasting and offered a wide variety of programming. Radio broadcasting. Radio stations can be linked in radio networks to broadcast common radio programs, either in broadcast syndication, simulcast or subchannels. Television broadcasting, experimentally from 1925, commercially from t
LinkedIn is a business and employment-oriented service that operates via websites and mobile apps. Founded on December 28, 2002, launched on May 5, 2003, it is used for professional networking, including employers posting jobs and job seekers posting their CVs; as of 2015, most of the company's revenue came from selling access to information about its members to recruiters and sales professionals. As of March 2019, LinkedIn had 610 million registered members in 200 countries. LinkedIn allows members to create profiles and "connections" to each other in an online social network which may represent real-world professional relationships. Members can invite anyone to become a connection. Since December 2016 it has been a wholly owned subsidiary of Microsoft. LinkedIn participated in the EU's International Safe Harbor Privacy Principles. LinkedIn is headquartered in Sunnyvale, with offices in Omaha, Los Angeles, New York, San Francisco, Washington, D. C. São Paulo, Dublin, Milan, Munich, Stockholm, Hong Kong, Japan, Canada and Dubai.
In January 2016, the company had around 9,200 employees. LinkedIn's CEO is Jeff Weiner a Yahoo! Inc. executive. Founder Reid Hoffman CEO of LinkedIn, is Chairman of the Board, it is funded by Sequoia Capital, Bain Capital Ventures, Bessemer Venture Partners and the European Founders Fund. LinkedIn reached profitability in March 2006. Through January 2011, the company had received a total of $103 million of investment; the site has an Alexa Internet ranking as the 28th most popular website. According to the New York Times, US high school students are now creating LinkedIn profiles to include with their college applications. Based in the United States, the site is, as of 2013, available in 24 languages, including Arabic, English, German, Portuguese, Dutch, Danish, Russian, Japanese, Polish, Indonesian and Tagalog. LinkedIn filed for an initial public offering in January 2011 and traded its first shares on May 19, 2011, under the NYSE symbol "LNKD"; the company was founded in December 2002 by Reid Hoffman and founding team members from PayPal and Socialnet.com.
In late 2003, Sequoia Capital led the Series A investment in the company. In August 2004, LinkedIn reached 1 million users. In March 2006, LinkedIn achieved its first month of profitability. In April 2007, LinkedIn reached 10 million users. In February 2008, LinkedIn launched a mobile version of the site. In June 2008, Sequoia Capital, Greylock Partners, other venture capital firms purchased a 5% stake in the company for $53 million, giving the company a post-money valuation of $1 billion. In November 2009, LinkedIn opened its office in Mumbai and soon thereafter in Sydney, as it started its Asia-Pacific team expansion. In 2010, LinkedIn opened an International Headquarters in Dublin, received a $20 million investment from Tiger Global Management LLC at a valuation of $2 billion, announced its first acquisition and improved its 1% premium subscription ratio. In October of that year, Silicon Valley Insider ranked the company No. 10 on its Top 100 List of most valuable start ups. By December, the company was valued at $1.575 billion in private markets.
LinkedIn filed for an initial public offering in January 2011. The company traded its first shares on May 19, 2011, at $45 per share. Shares of LinkedIn rose as much as 171% on their first day of trade on the New York Stock Exchange and closed at $94.25, more than 109% above IPO price. Shortly after the IPO, the site's underlying infrastructure was revised to allow accelerated revision-release cycles. In 2011, LinkedIn earned $154.6 million in advertising revenue alone, surpassing Twitter, which earned $139.5 million. LinkedIn's fourth-quarter 2011 earnings soared because of the company's increase in success in the social media world. By this point, LinkedIn had about 2,100 full-time employees compared to the 500 that it had in 2010. In April 2014, LinkedIn announced that it had leased 222 Second Street, a 26-story building under construction in San Francisco's SoMa district, to accommodate up to 2,500 of its employees, with the lease covering 10 years; the goal was to join all San Francisco-based staff in one building, bringing sales and marketing employees together with the research and development team.
They started to move in in March 2016. In February 2016, following an earnings report, LinkedIn's shares dropped 43.6% within a single day, down to $108.38 per share. LinkedIn lost $10 billion of its market capitalization that day. On June 13, 2016, Microsoft announced that it would acquire LinkedIn for $196 a share, a total value of $26.2 billion and the largest acquisition made by Microsoft to date. The acquisition would be an debt-financed transaction. Microsoft would allow LinkedIn to "retain its distinct brand and independence", with Weiner to remain as CEO, who would report to Microsoft CEO Satya Nadella. Analysts believed Microsoft saw the opportunity to integrate LinkedIn with its Office product suite to help better integrate the professional network system with its products; the deal was completed on December 8, 2016. In late 2016, LinkedIn announced a planned increase of 200 new positions in its Dublin office, which would bring the total employee count to 1,200. In July 2012, LinkedIn acquired 15 key Digg patents for $4 million including a "click a button to vote up a story" patent.