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Q1’12 Results
Safe Harbor
“Safe Harbor” statement under the Private Securities Litigation Reform Act of 1995: This presentation and the accompanying
conference call contain forward-looking statements about our products, including our planned investments in key strategic areas,
certain non-financial metrics, such as member growth and engagement, and our expected financial metrics such as revenue, adjusted
EBITDA, depreciation and amortization and stock-based compensation for the second quarter of 2012 and the full fiscal year 2012.
The achievement of the matters covered by such forward-looking statements involves risks, uncertainties and assumptions. If any of
these risks or uncertainties materialize or if any of the assumptions prove incorrect, the company’s results could differ materially from
the results expressed or implied by the forward-looking statements the company makes.

The risks and uncertainties referred to above include - but are not limited to - risks associated with: the company’s limited operating
history in a new and unproven market; engagement of our members; the price volatility of our Class A common stock; general
economic conditions; expectations regarding the return on our strategic investments; execution of our plans and strategies, including
with respect to acquisitions of other companies; expectations regarding the company’s ability to timely and effectively scale and adapt
existing technology and network infrastructure to ensure that its website is accessible at all times with short or no perceptible load
times; security measures and the risk that the company’s website may be subject to attacks that degrade or deny the ability of
members to access the company’s solutions; our ability to maintain our rate of revenue growth; our ability to accurately track our key
metrics internally; members and customers curtailing or ceasing to use the company’s solutions; the company’s core value of putting
members first, which may conflict with the short-term interests of the business; privacy issues; increasing competition; our ability to
manage our growth and retain our employees; and the dual class structure of the company’s common stock.

Further information on these and other factors that could affect the company’s financial results is included in filings it makes with the
Securities and Exchange Commission from time to time, including the section entitled “Risk Factors” in the company’s Annual Report
on Form 10-K that was filed for the year ended December 31, 2011, and additional information will also be set forth in our Form 10-Q
that will be filed for the quarter ended March 31, 2012, which should read in conjunction with these financial results. These documents
are available on the SEC Filings section of the Investor Information section of the company’s website at http://investors.linkedin.com/.
All information provided in this presentation is as of May 3, 2012, and LinkedIn undertakes no duty to update this information.




                                                                                                                                      2
Jeff Weiner           1st

Chief Executive Officer at LinkedIn
San Francisco Bay Area | Internet

 Send Message        View Profile




                                    Steve Sordello              1st

                                    Chief Financial Officer at LinkedIn
                                    San Francisco Bay Area | Internet

                                      Send Message       View Profile




                                                                          3
Key Metrics
  (Millions)                                                                    (Millions)                                                                   (Billions)
                                                                                                                                                     103     10                                                                    9.4
                                                                      161
160                                                                           100
                                                              145                                                                            92
                                                                                                                                     88
140                                                   131                                                                                                     8                                                    7.6 7.6
                                                                                                                             82
                                                                                                                                                                                                   7.1 7.1
                                                                               80                                    75
120                                           116

                                      102                                                                    65                                               6                            5.5
100                                                                                                                                                                                5.0
                              90
                                                                               60
                      81                                                                             53                                                                    3.9
 80           72                                                                                                                                              4   3.6
      64                                                                            46       45
 60
                                                                               40
                                                                                                                                                              2
 40


 20                                                                            20                                                                             0
      Q1'10

              Q2'10

                      Q3'10

                              Q4'10

                                      Q1'11

                                              Q2'11

                                                      Q3'11

                                                              Q4'11

                                                                      Q1'12




                                                                                    Q1'10

                                                                                             Q2'10

                                                                                                     Q3'10

                                                                                                             Q4'10

                                                                                                                     Q1'11

                                                                                                                             Q2'11

                                                                                                                                     Q3'11

                                                                                                                                             Q4'11

                                                                                                                                                     Q1'12




                                                                                                                                                                   Q1'10

                                                                                                                                                                           Q2'10

                                                                                                                                                                                   Q3'10

                                                                                                                                                                                           Q4'10

                                                                                                                                                                                                   Q1'11

                                                                                                                                                                                                           Q2'11

                                                                                                                                                                                                                   Q3'11

                                                                                                                                                                                                                           Q4'11

                                                                                                                                                                                                                                   Q1'12
                              Members (MM)                                                    Unique Visitors, comScore (MM)                                                 Page Views, comScore (BN)




                                                                                                                                                                                                                              4
(Millions)
                                             Revenue
$200                                                                                         $188   130%

$180                                                                                  $168          120%

$160
                                                                                                    110%
                                                                               $139
$140
                                                                      $121                          100%
$120
                                                                                                    90%
                                                                $94
$100
                                                          $82                                       80%
  $80
                                                    $62
                                              $55                                                   70%
  $60                                  $45
                               $39
                         $30                                                                        60%
  $40              $28
             $23
  $20                                                                                               50%

   $0                                                                                               40%
         Q1'09 Q2'09 Q3'09 Q4'09 Q1'10 Q2'10 Q3'10 Q4'10 Q1'11 Q2'11 Q3'11 Q4'11 Q1'12
                                     Net Revenue ($MM)                       % y/y




                                                                                                    5
(Millions)
                                Revenue by Product
 $200                                                                                                 $188

 $180                                                                                          $168
                                                                                                      20%
 $160
                                                                                       $139    20%
 $140
                                                                                $121
                                                                                       20%            26%
 $120
                                                                          $94   20%            30%
 $100
                                                                 $82                   29%
  $80                                                                     21%
                                                       $62                      32%
                                                                 22%
                                                $55
  $60                                     $45                             30%
                                  $39                  25%       34%                                  54%
                                                27%
  $40               $28   $30                                                                  50%
              $23                         30%          31%                             51%
                                  32%           33%                             48%
  $20               39%   38%             32%                             49%
             47%                  37%                            44%
                    32%   30%                   40%    44%
             26%                  31%     38%
             27%    29%   32%
    $0
             Q1'09 Q2'09 Q3'09 Q4'09 Q1'10 Q2'10 Q3'10 Q4'10 Q1'11 Q2'11 Q3'11 Q4'11 Q1'12

                       Hiring Solutions    Marketing Solutions         Premium Subscriptions


                                                                                                            6
(Millions)
                          Revenue by Geography
 $200                                                                                          $188

 $180                                                                                   $168   6%
                                                                                               7%
 $160                                                                                   6%
                                                                                 $139   6%
 $140                                                                                          23%
                                                                          $121   6%
                                                                                 6%     21%
 $120                                                                     5%
                                                                          5%     21%
                                                                  $94
 $100
                                                           $82            22%
                                                                  5%
                                                                  5%
   $80                                                     5%
                                                   $62            21%
                                             $55           20%
   $60                                $45                                                      64%
                                                                                        67%
                                $39                18%
                                             20%                                 67%
   $40              $28   $30                                             68%
              $23                     20%
                                22%                        71%    69%
                    21%   19%                      74%
   $20       20%                      73%    73%
                          75%   72%
             75%    73%
    $0
             Q1'09 Q2'09 Q3'09 Q4'09 Q1'10 Q2'10 Q3'10 Q4'10 Q1'11 Q2'11 Q3'11 Q4'11 Q1'12
                                 US   EMEA     APAC      Other Americas

                                                                                                7
(Millions)
                            Revenue by Channel
 $200                                                                                          $188

 $180                                                                                   $168

 $160
                                                                                 $139
                                                                                               46%
 $140
                                                                       $121
 $120                                                                                   43%

                                                                 $94             47%
 $100
                                                           $82             45%
   $80
                                                     $62         46%
                                              $55          41%
   $60                                $45
                                $39                  46%                                57%    54%
   $40              $28   $30                45%
              $23                     47%                                  55%   53%
                                43%
                    46%   50%                              59%   54%
   $20       50%                                     54%
                                57%   53%    55%
             50%    54%   50%
     $0
             Q1'09 Q2'09 Q3'09 Q4'09 Q1'10 Q2'10 Q3'10 Q4'10 Q1'11 Q2'11 Q3'11 Q4'11 Q1'12

                                            Field Sales     Online Sales


                                                                                                      8
Adjusted EBITDA & Margin
 (Millions)


$40                                                                               $38   25%
                                                                            $34
$35
                                                                                        20%
$30
                                                                $26
                                                                      $25
$25                                                                                     15%
$20
                                                    $16
$15                                                       $13                           10%
                                       $11   $11
                                 $9
$10
                           $5                                                           5%
               $4    $4
$5
          $1
$0                                                                                      0%
        Q1'09 Q2'09 Q3'09 Q4'09 Q1'10 Q2'10 Q3'10 Q4'10 Q1'11 Q2'11 Q3'11 Q4'11 Q1'12

                                  Adjusted EBITDA          Margin%


                                                                                         9
Net Income & Cash Flow Highlights
                                                                          Q1 2012                Q4 2011                        Q1 2011


                 Net Income $mn, GAAP                                      $5.0                   $6.9                           $2.1

             Net Income $mn, Non-GAAP                                     $16.9                  $13.3                           $5.8
                     EPS, GAAP
           Fully-Diluted Weighted Shares
    * Excludes both net income attributable to preferred shareholders &
                                                                          $0.04                  $0.06                         $0.00
                     preferred shares in share count


                  EPS, Non-GAAP
           Fully-Diluted Weighted Shares                                  $0.15                  $0.12                         $0.06

              Operating Cash Flow (OCF)                                   $63.2                  $24.2                         $26.6
                 Free Cash Flow, $mn
               (OCF – Purchases of PPE)                                   $41.1                   $3.5                         $10.4
               Cash, Cash Equivalents, &
                 ST Investments, $mn                                      $620.8                $577.5                        $106.1
For additional reconciliation of our non-GAAP measures, please see the “Selected Company Metrics and Financials” page on LinkedIn’s Investor
Relations site.



                                                                                                                                               10
Guidance
                                   Q2 2012      FY 2012

         Revenue, $mn              $210-215     $880-900

     Adjusted EBITDA, $mn           $40-42      $170-175

Depreciation & Amortization, $mn   $18.5-19.5    $75-85

Stock-Based Compensation, $mn       $18-19       $80-90




                                                           11
Non-GAAP Reconciliations




                           12
Thank You

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Linked In Q1 2012

  • 2. Safe Harbor “Safe Harbor” statement under the Private Securities Litigation Reform Act of 1995: This presentation and the accompanying conference call contain forward-looking statements about our products, including our planned investments in key strategic areas, certain non-financial metrics, such as member growth and engagement, and our expected financial metrics such as revenue, adjusted EBITDA, depreciation and amortization and stock-based compensation for the second quarter of 2012 and the full fiscal year 2012. The achievement of the matters covered by such forward-looking statements involves risks, uncertainties and assumptions. If any of these risks or uncertainties materialize or if any of the assumptions prove incorrect, the company’s results could differ materially from the results expressed or implied by the forward-looking statements the company makes. The risks and uncertainties referred to above include - but are not limited to - risks associated with: the company’s limited operating history in a new and unproven market; engagement of our members; the price volatility of our Class A common stock; general economic conditions; expectations regarding the return on our strategic investments; execution of our plans and strategies, including with respect to acquisitions of other companies; expectations regarding the company’s ability to timely and effectively scale and adapt existing technology and network infrastructure to ensure that its website is accessible at all times with short or no perceptible load times; security measures and the risk that the company’s website may be subject to attacks that degrade or deny the ability of members to access the company’s solutions; our ability to maintain our rate of revenue growth; our ability to accurately track our key metrics internally; members and customers curtailing or ceasing to use the company’s solutions; the company’s core value of putting members first, which may conflict with the short-term interests of the business; privacy issues; increasing competition; our ability to manage our growth and retain our employees; and the dual class structure of the company’s common stock. Further information on these and other factors that could affect the company’s financial results is included in filings it makes with the Securities and Exchange Commission from time to time, including the section entitled “Risk Factors” in the company’s Annual Report on Form 10-K that was filed for the year ended December 31, 2011, and additional information will also be set forth in our Form 10-Q that will be filed for the quarter ended March 31, 2012, which should read in conjunction with these financial results. These documents are available on the SEC Filings section of the Investor Information section of the company’s website at http://investors.linkedin.com/. All information provided in this presentation is as of May 3, 2012, and LinkedIn undertakes no duty to update this information. 2
  • 3. Jeff Weiner 1st Chief Executive Officer at LinkedIn San Francisco Bay Area | Internet Send Message View Profile Steve Sordello 1st Chief Financial Officer at LinkedIn San Francisco Bay Area | Internet Send Message View Profile 3
  • 4. Key Metrics (Millions) (Millions) (Billions) 103 10 9.4 161 160 100 145 92 88 140 131 8 7.6 7.6 82 7.1 7.1 80 75 120 116 102 65 6 5.5 100 5.0 90 60 81 53 3.9 80 72 4 3.6 64 46 45 60 40 2 40 20 20 0 Q1'10 Q2'10 Q3'10 Q4'10 Q1'11 Q2'11 Q3'11 Q4'11 Q1'12 Q1'10 Q2'10 Q3'10 Q4'10 Q1'11 Q2'11 Q3'11 Q4'11 Q1'12 Q1'10 Q2'10 Q3'10 Q4'10 Q1'11 Q2'11 Q3'11 Q4'11 Q1'12 Members (MM) Unique Visitors, comScore (MM) Page Views, comScore (BN) 4
  • 5. (Millions) Revenue $200 $188 130% $180 $168 120% $160 110% $139 $140 $121 100% $120 90% $94 $100 $82 80% $80 $62 $55 70% $60 $45 $39 $30 60% $40 $28 $23 $20 50% $0 40% Q1'09 Q2'09 Q3'09 Q4'09 Q1'10 Q2'10 Q3'10 Q4'10 Q1'11 Q2'11 Q3'11 Q4'11 Q1'12 Net Revenue ($MM) % y/y 5
  • 6. (Millions) Revenue by Product $200 $188 $180 $168 20% $160 $139 20% $140 $121 20% 26% $120 $94 20% 30% $100 $82 29% $80 21% $62 32% 22% $55 $60 $45 30% $39 25% 34% 54% 27% $40 $28 $30 50% $23 30% 31% 51% 32% 33% 48% $20 39% 38% 32% 49% 47% 37% 44% 32% 30% 40% 44% 26% 31% 38% 27% 29% 32% $0 Q1'09 Q2'09 Q3'09 Q4'09 Q1'10 Q2'10 Q3'10 Q4'10 Q1'11 Q2'11 Q3'11 Q4'11 Q1'12 Hiring Solutions Marketing Solutions Premium Subscriptions 6
  • 7. (Millions) Revenue by Geography $200 $188 $180 $168 6% 7% $160 6% $139 6% $140 23% $121 6% 6% 21% $120 5% 5% 21% $94 $100 $82 22% 5% 5% $80 5% $62 21% $55 20% $60 $45 64% 67% $39 18% 20% 67% $40 $28 $30 68% $23 20% 22% 71% 69% 21% 19% 74% $20 20% 73% 73% 75% 72% 75% 73% $0 Q1'09 Q2'09 Q3'09 Q4'09 Q1'10 Q2'10 Q3'10 Q4'10 Q1'11 Q2'11 Q3'11 Q4'11 Q1'12 US EMEA APAC Other Americas 7
  • 8. (Millions) Revenue by Channel $200 $188 $180 $168 $160 $139 46% $140 $121 $120 43% $94 47% $100 $82 45% $80 $62 46% $55 41% $60 $45 $39 46% 57% 54% $40 $28 $30 45% $23 47% 55% 53% 43% 46% 50% 59% 54% $20 50% 54% 57% 53% 55% 50% 54% 50% $0 Q1'09 Q2'09 Q3'09 Q4'09 Q1'10 Q2'10 Q3'10 Q4'10 Q1'11 Q2'11 Q3'11 Q4'11 Q1'12 Field Sales Online Sales 8
  • 9. Adjusted EBITDA & Margin (Millions) $40 $38 25% $34 $35 20% $30 $26 $25 $25 15% $20 $16 $15 $13 10% $11 $11 $9 $10 $5 5% $4 $4 $5 $1 $0 0% Q1'09 Q2'09 Q3'09 Q4'09 Q1'10 Q2'10 Q3'10 Q4'10 Q1'11 Q2'11 Q3'11 Q4'11 Q1'12 Adjusted EBITDA Margin% 9
  • 10. Net Income & Cash Flow Highlights Q1 2012 Q4 2011 Q1 2011 Net Income $mn, GAAP $5.0 $6.9 $2.1 Net Income $mn, Non-GAAP $16.9 $13.3 $5.8 EPS, GAAP Fully-Diluted Weighted Shares * Excludes both net income attributable to preferred shareholders & $0.04 $0.06 $0.00 preferred shares in share count EPS, Non-GAAP Fully-Diluted Weighted Shares $0.15 $0.12 $0.06 Operating Cash Flow (OCF) $63.2 $24.2 $26.6 Free Cash Flow, $mn (OCF – Purchases of PPE) $41.1 $3.5 $10.4 Cash, Cash Equivalents, & ST Investments, $mn $620.8 $577.5 $106.1 For additional reconciliation of our non-GAAP measures, please see the “Selected Company Metrics and Financials” page on LinkedIn’s Investor Relations site. 10
  • 11. Guidance Q2 2012 FY 2012 Revenue, $mn $210-215 $880-900 Adjusted EBITDA, $mn $40-42 $170-175 Depreciation & Amortization, $mn $18.5-19.5 $75-85 Stock-Based Compensation, $mn $18-19 $80-90 11