Microsoft Plans to Acquire LinkedIn For $26 Billion
John Williamson / 3 years ago
LinkedIn is an online professional networking platform which allows entrepreneurs, freelance workers and other employees to communicate about business opportunities. Since its formation in December 2002, the site has seen exponential growth and now has 433 million members across the globe. Furthermore, 105 million individuals frequent the website each month and there are more than seven million job listings. The core concept works brilliantly because you can upload your career history and qualifications to a profile which can be seen by prospective employers requiring certain skills. Today, Microsoft announced their plans to purchase the company for a whopping $26.2 billion which equates to $196 per share. This move would also give Microsoft control of educational website Lynda.com.
Microsoft’s CEO Satya Nadella sent a memo to employees explaining the situation:
“This deal brings together the world’s leading professional cloud with the world’s leading professional network. I have been learning about LinkedIn for some time while also reflecting on how networks can truly differentiate cloud services. It’s clear to me that the LinkedIn team has grown a fantastic business and an impressive network of more than 433 million professionals.”
“Together we can accelerate the growth of LinkedIn, as well as Microsoft Office 365 and Dynamics as we seek to empower every person and organization on the planet,”
Apparently, Jeff Weiner will remain as LinkedIn’s CEO and able to run the business without Microsoft giving instructions which they have to obey. This seems like an unbelievable sum of money, but it might be a shrewd investment when you consider the staggering growth of LinkedIn.