Social networking firm LinkedIn announced Tuesday that it will close down its last service available in China, citing “fierce competition and a challenging macroeconomic climate”.
Microsoft-owned LinkedIn was one of the few US technology companies to successfully operate a social media site in China, where the internet is heavily regulated and censored.
The company had introduced a unique domestic version of the career networking platform operated locally in order to comply.
The US firm once achieved a rapid rise in the country, benefiting from a culture of connections, or “guanxi”, in which one’s contacts and professional network are essential assets.
However, LinkedIn has been marginalized in recent years as innovative local apps have surged in popularity.
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