A huge news came on June 13th, 2016, in the U.S., when Microsoft announced that it will be acquiring LinkedIn for US$26.2 billion (~RM105.8 billion) in an all-cash transaction, at US$196 per share, inclusive of LinkedIn’s net cash. Jeff Weiner, the current CEO of LinkedIn, will remain at the helm, reporting directly to Microsoft’s CEO Satya Nadella. Co-founder, current chairman of the board, and controlling shareholder of LinkedIn, Reid Hoffman, is said to fully support this acquisition together with Weiner. The acquisition transaction is expected to close this (calendar) year, subject to the approval of LinkedIn’s shareholders, the satisfaction of regulatory approvals, and other conditions.
Everyone knows Microsoft, but for those who are unaware of LinkedIn, it is a 13-year-old business-centric social networking site. While not as popular as consumer-focused social networks like Facebook or even Twitter, LinkedIn is, by far, the world’s largest professional social network, and it is no wonder why Microsoft would take interest in it. The company has lately enhanced its news feed to improve business insights, as wells as revamping its mobile apps, and updating its Recruiter feature. LinkedIn also recently made a huge acquisition itself, with the purchase of Lynda.com for US$1.5 billion (~RM6.07 billion). LinkedIn and Microsoft said that all of these improvements have brought an increase in membership, engagement, and even financial results. Here are some of them:
- 19% growth year over year (YoY) with more than 433 members worldwide;
- 9% growth YoY to over 105 million unique monthly visitors;
- 49% growth YoY to around 60% in mobile usage;
- 34% growth YoY to over 45 billion quarterly page views;
- 101% growth YoY to over 7 million active job listings.
Other specifics pertaining to this transaction can be found at Microsoft’s announcement page here. Nadella also sent an email to LinkedIn employees about this acquisition which you can read here.
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