Professional networking giant LinkedIn has acquired online learning company Lynda for $1.1 billion. The deal marks LinkedIn’s biggest purchase yet and is seen as part of the firm’s attempts to expand the business content it offers to its users. LinkedIn currently has 300 million users, with Lynda specializing in videos that educate people on growing businesses and coding to give just two examples.
A fee of $375 per year gives users access to the tutorials. Lynda was founded in the mid-nineties but has grown quickly during the last few years after attracting additional investment and offering content in many different languages.
LinkedIn boss Jeff Weiner said that both companies shared the same values: “The mission of LinkedIn and the mission of lynda.com are highly aligned…both companies seek to help professionals be better at what they do.”
The news led to shares in LinkedIn rising by more than 1.5% on the New York Stock Exchange.
LinkedIn began life in the living room of one its founders, Reid Hoffman, in 2002 before officially being launched the year after. By the end of its first month, 4,500 members had signed up. It makes money from various revenue streams including premium subscription products. LinkedIn is headquartered in California and has offices around the world.
