On April 9th LinkedIn announced its plans to acquire Lynda.com, the largest acquisition ever by the company and fourth largest ever in the social media industry.
Image: company website
Through the acquisition, the company reinforced its presence and leadership in the networking and career advancement domain. The takeover, for a whopping $1.5 billion also marks LinkedIn’s foray into the educational technology market. LinkedIn was founded on 5th May, 2003 by Reid Hoffman and founders of PayPal and Socialnet.com. LinkedIn currently has 259 million members worldwide. The site helps users in networking with their direct contacts as well as with the contacts of their contacts. It can be leveraged to find job opportunities, as well as business opportunities.
Lynda.com was founded in 1995 by husband wife duo of Bruce Heavin and Lynda Weinman, the company hit profitability in 1997 and in 2002 went on to establish itself as a web based resource. It aids users in learning technology, creative, software and business skills through online videos. The users can either create their own individual accounts, or the schools and corporations can buy the subscription as well. Its online videos are produced in its own videos with experts coming in to teach different courses. Through the takeover, LinkedIn is looking for furthering its position in the career development domain. The acquisition can help the users seek the skills required by them for the available job opportunity. The move can also help the company in generating higher revenues from its 347 million users and help them connect to opportunities.