A new report, conducted by social media agency FreshNetworks, estimates that LinkedIn’s member base is set to rise to 165 million users by the end of 2011.

FreshNetworks tracked LinkedIn’s growth figures over the last three years, and by analysing growth patterns, has predicted that the company will be well over half way to achieving 200 million users by the end of the year.

This forecast follows the company’s first earnings announcement, published last week, which reported revenue up 120% to $US121 million (£74m) in the last quarter.

FreshNetworks attributes the growth of the site to its proactive approach in rolling out new developments and functionality. Charlie Osmond, co-founder of FreshNetworks, comments: “LinkedIn has clearly upped its game in the last nine months, swiftly implementing site improvements in response to user feedback and market demand.

“The LinkedIn proposition offers B2B businesses, who are often nervous of using other social media networks for business, the chance to network professionally. Increasingly, LinkedIn is also being used by recruiters and the growing LinkedIn community are spending more time on the site improving their profiles. With its ability to evolve and keep pace with the ever changing online social landscape, it will be interesting to see what’s next for LinkedIn.”

In accordance with FreshNetwork’s forecast, LinkedIn estimate that roughly one million new members join LinkedIn every week, at a rate equivalent to a professional joining the site faster than one member per second.

Published on: 5:52PM on 8th August 2011