The Ladders is Making Bank

SAI is reporting that The Ladders has switched over to a completely subscription based model. They are sporting 1.6M members, 35,000 recruiters and about 180 employees (and adding about 5 new employees per week). Membership is $30 per month for job seekers and presumably much more for recruiters. So, based on job-seeking members alone:

1.6M members * $30/mo = $48,000,000/mo = $576,000,000 per year

Let's assume the average employee makes $100,000. So, subtract $18,000,000 in payroll, heck, we'll double it just to cover medical and dental and whatnot. Subtract $36,000,000.

Forgetting operating costs, that's $540,000,000 per year. This, for a fairly young company. They just proved that subscription models online do, in fact, work.