You Won’t Believe How Much Microsoft Paid To Buy LinkedIn! Check It Out!
On Monday, LinkedIn Corporation and Microsoft Corp announced about entering into an agreement under which LinkedIn would be acquired by Microsoft at a cost of $196 per share in an all-cash transaction, the value of which was $26.2 billion i.e. Rs 1,75,802 Crore , inclusive of the net cash of LinkedIn. LinkedIn would be retaining its independence, culture and distinct brand. Jeff Weiner would maintain his CEO position in LinkedIn and would report to Microsoft’s CEO, Satya Nadella. This transaction is completely supported by Weiner and Reid Hoffman, the controlling shareholder, co-founder and chairman of the board of LinkedIn. It is expected that the transaction would be closing this calendar year. LinkedIn is the largest professional network all across the globe and last year, it had launched a mobile application, which increased member engagement. Then it acquired Lynda.com, an online learning platform. All this had led to increased membership. Nadella stated that, “The L