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Photo by studioEAST/Getty Images

LinkedIn, the business and employment network, says it expects to bring in roughly $2 billion from its media business — mostly via ad revenue — by the end of this fiscal year.

Why it matters: LinkedIn has been hesitant to reveal specific revenue numbers around its media efforts since it was acquired by Microsoft in 2016, but is doing so now to highlight the growth of its ad business, which can be in part attributed to user engagement.

Between the lines: The projected $2 billion revenue figure for LinkedIn's media business means the professional network site will bring in roughly one quarter of Microsoft's $8.16 billion in ad revenue, per eMarketer.

The details: LinkedIn announced a few product updates Tuesday that it says will continue to drive engagement with its News Feed, including revamped Pages that are built to foster active communities and conversations on LinkedIn.

The bigger picture: LinkedIn product updates, including changes to Pages and the LinkedIn news feed, have driven user engagement on the platform.

  • In total, LinkedIn says it generates more than 2 million posts, videos and articles in the feed per day.
  • And close to 30 million brands, institutions and organizations, from small businesses to large enterprises, have Pages on LinkedIn.

Bottom line: "Momentum in the consumer ecosystem is driving marketing solutions and ad revenue," says Tomer Cohen, VP of Products at LinkedIn.

Go deeper

America's child care sticker shock

Illustration: Sarah Grillo/Axios

Parents looking to return to the job market may find child care options have gotten pricier — and that's if they can enroll their kids at all.

Why it matters: The fate of the recovery partially relies on the return of parents who left the workforce to care for their children.

Biden's major border shake-up

A migrant family waits to be taken to a Border Patrol processing facility after crossing the Rio Grande River. Photo: Brandon Bell/Getty Images

Vice President Kamala Harris' trip to the border on Friday will play out amid the Biden administration widening shake-up of U.S. border policy and leadership.

Driving the news: Rep. Henry Cuellar (D-Tex.) tells Axios that he's been advised by a border official that as soon as mid-July the Biden administration will end all use of Title 42, a Trump-era policy citing coronavirus as rationale to block migrants at the border.

DeSantis signs law requiring college faculty, students to take surveys on beliefs

Florida Gov. Ron DeSantis. Photo: Joe Raedle/Getty Images

Florida Gov. Ron DeSantis (R) signed legislation requiring state colleges and universities to annually survey their students, faculty and staff about their beliefs to ensure "viewpoint diversity and intellectual freedom."

Why it matters: The legislation doesn't specify for what the survey results will be used, but at a press conference on Tuesday DeSantis said that schools found to be "indoctrinating" students aren't "worth tax dollars" and are "not something we’re going to be supporting going forward."