LinkedIn & Facebook At Loggerheads In The Social Workspace
LinkedIn Corp (NYSE: LNKD) and Facebook Inc (NASDAQ: FB) are soon going to be at loggerheads in the social platform space. While LinkedIn is an established social platform for the workplace, Facebook is rumored to be testing a similar product.
Strauss Zelnick, chairman and CEO of Take-Two Interactive and Bloomberg’s Cory Johnson discussed how Facebook’s entry in the workspace will benefit the company and change the game for other players.
"I think people are looking for a way to connect electronically, I do think LinkedIn offers a great product. There is a company called relationship science, which is playing in the same space and I think to the extent your team is on Facebook anyways. I think, the notion of creating a professional application makes sense," Zelnick said.
Zelnick said that he is open to paying Facebook for its new tool if it delivers some kind of value to his business. However, Johnson doesn’t think Facebook will be charging its users for the new tool like it doesn't charges users of WhatsApp and Instagram, as the data it generates through these tools is more valuable to it than advertising revenues.
"If you are in HR department, If you are running a recruitment drive, you know there is nothing better than LinkedIn to do that and I don’t know if Facebook can get close," Johnson added. "You Know the CEO of LinkedIn has told me many times the reason that LinkedIn has continued to exist separate from Facebook is the Keg stand, it’s that picture that’s personal and contextual and important to you that has no context of at work and so for a recruiter and a potential employee, LinkedIn is an incredible tool."
© 2016 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.