Microsoft to Acquire LinkedIn in $26 Billion Deal
Posted on June 13, 2016
Microsoft and LinkedIn have announced they have signed an agreement that has Microsoft acquiring the social network in a $26.2 billion deal. LinkedIn is one of the top social networks and is by far the largest business-focused social network. It is also a top jobs hub.
The acquisition instantly makes Microsoft competitive with rival social networks like Facebook and Twitter. LinkedIn says it has 433 million members worldwide. It has 105 million unique visiting members monthly. It also has 7 million job listings. Microsoft can also use the social network to connect users to its business software products like Microsoft Office.
Microsoft CEO Satya Nadella says in a statement, "The LinkedIn team has grown a fantastic business centered on connecting the world's 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."
Jeff Weiner will remain CEO of LinkedIn. He says in the announcement, "Just as we have changed the way the world connects to opportunity, this relationship with Microsoft, and the combination of their cloud and LinkedIn's network, now gives us a chance to also change the way the world works. For the last 13 years, we've been uniquely positioned to connect professionals to make them more productive and successful, and I'm looking forward to leading our team through the next chapter of our story
Microsoft CEO Satya Nadella and LinkedIn CEO Jeff Weiner discuss Microsoft's acquisition of LinkedIn in the following video.