Microsoft buys LinkedIn for $26.2 billion
Microsoft has acquired LinkedIn for $196 per share in an all-cash transaction valued at $26.2 billion, inclusive of LinkedIn’s net cash, according to a Microsoft press release.
LinkedIn will maintain its branding and product, and Jeff Weiner will remain its CEO, reporting to Satya Nadella, CEO of Microsoft. Reid Hoffman, chairman of the board, co-founder and controlling shareholder of LinkedIn, and Weiner both fully support this transaction, which is expected to close this calendar year.
Over the past year, LinkedIn has launched a new version of its mobile app that has led to increased users’ engagement; enhanced the LinkedIn newsfeed to deliver better business insights; acquired the leading online learning platform Lynda.com to enter a new market; and rolled out a new version of its Recruiter product to its enterprise customers. These innovations have resulted in increased membership, engagement and financial results, specifically:
- 19% growth year over year (YOY) to more than 433 million members worldwide
- 9% growth YOY to more than 105 million unique visiting members per month
- 49% growth YOY to 60 percent mobile usage
- 34% growth YOY to more than 45 billion quarterly member page views
- 101% growth YOY to more than 7 million active job listings
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