It has been officially announced that Microsoft will acquire the popular social-media network for professionals for 196 dollars a share or 26.2 billion dollars. So what does this mean for the largest professional network on the planet? Well, not much is going to change. Jeff Weiner will remain the CEO of LinkedIn and will report directly to Satya Nadella the CEO of Microsoft. Furthermore LinkedIn will retain its own unique brand, image, and culture.
Recently, LinkedIn released a new version of its mobile application which has led directly to an increase in member engagement and an enhanced newsfeed that delivers better insights to businesses. On top of that LinkedIn also recently acquired Lynda.com an online learning platform and they rolled out the latest version of Recruiter a software they designed for their enterprise customers.
All of these big moves have made the company very successful. For one, it raised the number of members on the site by 19 percent and they now have over 433 million members worldwide, a nine percent growth in unique daily visitors over last year to 105 million a day, a large spike in mobile application use up 49 percent over the previous year and now accounts for a total of 60 percent of all users, a 34 percent growth over last year’s figures to 45 billion quarterly member page views, and an astounding 101 percent growth over last year in terms of jobs listed on the website to over 7 million!
The transaction between Microsoft and LinkedIn has been unanimously approved by both company’s Board of Directors. This transaction is expected to close by the end of the calendar year.