Chairman Board of Investments Saleem H Mandviwalla revealed in a statement that LinkedIn is planning to set up offices in major cities of Pakistan.
The announcement came after the Board Chair’s detailed discussion with LinkedIn director Fredrick Berscl on the possible move. Mandviwalla was confident in announcing that the decision has been finalized and the company will start its operations in the country by the year end or early 2013. The move will cost LinkedIn around $10 Million.
LinkedIn is one of largest social media network in the world and the biggest professional networking platform. The website, www.linkedin.com has more than 175 Million users as of June this year. The move to start proper operations in the local Pakistani market comes after the increasing popularity amongst the masses.
According to a report, more than 30 Million people use internet in Pakistan and of them 1.2 Million have subscribed to LinkedIn. Some of them are oversees Pakistani but majority belongs to the local vicinities.
The growing subscription rate is one of the reasons why the biggest professional networking website is opening regional offices in Pakistan, the Chairman averred.
“In my view, this is a very serious network,” he said. “This will lead to the setting up of LinkedIn’s proper operations in Pakistan.”
Mandviwalla continued to say that LinkedIn’s physical presence in Pakistan will be of great interest to local and corporate businesses, as well as BOI.
“This is of great interest to us,” Mandviwalla added. “The BOI would like to use LinkedIn as an effective tool and important platform.”
The website’s primary business is to link professionals with businesspersons for more collaborative efforts in furnishing their operations. Moreover, its recruitment service for employers is one of the most profitable operations, earning in hundreds of millions if not billions.
Its presence in Pakistan will certain help in reducing unemployment rate, one of most aggravated quandaries in Pakistan.