LinkedIn has gotten life as a publicly traded company off to a strong start after posting sales growth of 120% between April and June – its first since going public.

It comes on the back of a 61% increase in its membership to close on 120m members - with two new recruits being added each second.

The business networking site saw a modest rise in profits on the back of this to $4.5m, up from $4.3m a year ago and beating expectations of a loss although over the year as a whole the company isn’t likely to make a bean due to continued aggressive investment.

LinkedIn shares were valued at $45 a piece in May but this subsequently more than doubled on the first day of trading and is currently hovering around the $95 mark.

Analysts have raised concern that we are in the midst of a new tech bubble, with social media firms in particular being hugely overvalued in relation to their real world profits.