Facebook isn’t the only social media making fast moves in the IT industry. LinkedIn, a social media focusing on the professionals, has been found linking business with SlideShare, a network that centers on sharing presentations and documents online. Two of which are a perfect combination for professional networking, playing the acquirement game with an expected $118.75 million payment to Slideshare.
In a Press Release on Thursday, The Chief executive of LinkedIn Jeff Weiner announced the purchase.
“Presentations are one of the main ways in which professionals capture and share their experiences and knowledge, which in turn helps shape their professional identity,” He said.
Pronouncing himself “very excited to welcome the SlideShare team to LinkedIn,” Weiner also emphasized and elaborated on the value of Slide Share offered service to careers of professionals wherein he also stated that “These presentations also enable professionals to discover new connections and gain the insights they need to become more productive and successful in their careers, aligning perfectly with LinkedIn’s mission and helping us deliver even more value for our members.”
Though LinkedIn officially took over Slide Share, Rashmi Sinha, the chief executive of SlideShare together with Mark Cuban and Venrock, plans to stay with the network and is even excited to develop it further. In the press release, he mentioned “I am excited about what we can build together.”
Deep Nishar, SlideShare’s senior vice president of product and user experience also wrote in a blog post that both IT service Medias will work hand in hand for users, this will bring out more of people’s professions. He states: “This deal enables professionals to discover people through content, and content through people. We’re excited to figure out the best ways our offerings will work together to help professionals around the world be more productive and successful.”
Of course, LinkedIn has not yet gone far over board to risk that much money. Over 55 percent is expected to be given as stock and 45 percent will be in cash, which will altogether be in net worth of $188 million. Not bad for fast developing site. Even though its incomparable to Facebook’s bewildering purchase of Instagram for $1 billion, LinkedIn has still shown its will to boost its social media features and puts them as one of the top in the U.S.
It has been accounted that LinkedIn had a sturdy start as the first quarter were reported to have revenue twice as its performance last quarter. With a $2.9 million increase in its profit, the company has shown a strong suit and through this strategic move, LinkedIn has surely secured their next quarters.
In this IT generation, it is anticipated that will soon be a common practice for companies to search employees and applicants through the network, rather than the typical placement agencies. In fact, it will be much more convenient both for the employer and employee, as all the information needed are available online, even the tweets and applications that reveal personality and behavior.
The connection between companies and employees are growing thanks to the improved IT services highway from network like Linkedin and Slideshare. Now more than ever, LinkedIn will be known to be the “facebook” of professional networks and we are in the midst of its growth!