Microsoft Corp. has announced its intent to purchased LinkedIn Corporation. The all-cash transaction is valued at $26.2 billion, according to Microsoft.
LinkedIn is expected to retain “its distinct brand, culture and independence.” Jeff Weiner will remain CEO of the company, and report to Satya Nadella, CEO of Microsoft.
According to Microsoft:
LinkedIn is the world’s largest and most valuable professional network and continues to build a strong and growing business. Over the past year, the company has launched a new version of its mobile app that has led to increased member engagement; enhanced the LinkedIn newsfeed to deliver better business insights; acquired a leading online learning platform called Lynda.com to enter a new market; and rolled out a new version of its Recruiter product to its enterprise customers.
LinkedIn was launched in 2003 as a business-oriented social networking service. The company has 433 million users, out of which more than 105 million are active.
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