Microsoft Corp (NASDAQ: MSFT) LinkedIn CEO Ryan Roslansky braced for growth for the social-networking site in markets like India, which prepared for economic headwinds more broadly by pausing hiring.
India has become LinkedIn’s fastest-growing market as more companies and advertisers come online, with sales in the country rising at a 50% year-on-year clip, Roslansky told Bloomberg.
“What’s going to happen in the next ten years in India is being written right now,” he said.
The business networking service explored overseas for new growth opportunities as the worsening economic climate weighs on its U.S. home market.
Roslansky said LinkedIn has paused hiring to prepare for more challenging conditions.
Most of LinkedIn’s growth happened outside of the U.S., adding that new members are joining the networking site in markets like India, Indonesia, and Western Europe.
In 2021, several individuals had their profiles blocked or posts removed from the China version of LinkedIn since May as the nation’s domestic internet firm crackdown gained steam.
LinkedIn accepted Chinese censorship when it entered China in 2014.
Shortly after, LinkedIn announced pausing new member sign-ups as the platform to ensure local law compliance.
Price Action: MSFT shares traded lower by 0.37% at $240.83 in the premarket on the last check Thursday.
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