LinkedIn Likely to Spend Huge Amount on Security updates

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Linkedin’s chief financial officer Steve Sordello made an announcement on Tuesday that the company will spend up to $3million in the second quarter of 2012 on security platform updation. The company took this step post to the security breach they were subjected in the month of June .

Previously on the same breach issue, Linkedin spent amount between $500,000 and $1 million on the logical work and to detect the cause of the threat .  Sordello also says that the security breach did not seem to have a huge impact on Q2 revenues of the company though, which grew 89 percent to a record growth of $228 million. Last year Sony was also hit by such breaching activity and company spent around $171 million to secure the network and LinkedIn’s amount is merely small one in comparison to Sony.  As it is always said “ Prevention is better than cure”.

Vincente Silveira, director at LinkedIn, said it was working with the FBI to investigate the breach in order to make the things transparent.

According to LinkedIn, it continues to add up 2 new members per second to their network . Year after year its membership increases by 50% and will projected to reach up to 174 million members at the end of 2012. This means that more than 13 million members were added during the second quarter of 2012.

Around 62% of the of the LinkedIn members are from international  markets and 70 percent of the members added during Q2 of 2012 came from outside US.

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