LinkedIn is social networking site which provide jobs and many other service provider. It is mostly used for professional networking, It was founded in 14 Dec, 2002 but launched on 5 May, 2003. Aim of the site was to bring in contact the professional service providers that’s why LinkedIn is said to be business oriented social networking service provider and to create professional network between people.
Why Microsoft Bought LinkedIn?
Microsoft both have build out their own graphs like Microsoft graph include too much of data and contacts, documents and their another side LinkedIn graphs include only professional data, information about co-worker and jobs. So, Microsoft thought if these two graphs will be in contact some miracle will happen. Aim of Microsoft LinkedIn is to make professionals more productive through the contacts graphs of Microsoft.
Buying a Business oriented social networking site at price $26.2 billion it’s a high-priced deal ever done with social networking site. The LinkedIn CEO Jeff Wiener will continue with the deal with Microsoft CEO Satya Nadella, Jeff Wiener want to continue it with a statement that LinkedIn would keep its distinct brand and culture and independence. Because over some past years, LinkedIn had struggling to grow it in Web service as Facebook has done in sharing as people start sharing their personal things like videos and their family photos. With this the after struggle of 13 years LinkedIn company has more than 430 million users worldwide.
Wiener said in statement ” This relationship with Microsoft and the combination of their cloud and LinkedIn’s network, now gives us a chance to change the way the world works.”
Microsoft doesn’t have great record with acquisitions, Microsoft have spent 2 years to dig out from under its $7 billion takeover of Nokia’s phone Business. The linking of to companies have endorsed the deal which value the LinkedIn at $196 per share. that;s had been increased from Friday evening shares from $131.08 and company’s shares was already going low from last month February $101. Still Microsoft have done High-priced deal with LinkedIn.