LinkedIn acquires online education company lynda.com for $1.5 billion
LinkedIn has announced its biggest acquisition yet, spending $1.5 billion for online education company lynda.com.
The deal adds a new revenue stream to LinkedIn — lynda.com is reportedly already profitable — as well as a deep slate of web-based learning programs, as the social network looks to provide more utility for users beyond its professional connections.
See also: LinkedIn is working on two new products to help coworkers connect
"At LinkedIn, we’ve followed lynda.com for a long time, rooted in the conviction that access to high-quality, skills-based learning-and-development content should be available to every LinkedIn member and a fundamental part of our platform," LinkedIn CEO Jeff Weiner wrote in a post announcing the deal.
The deal is 52% cash and 48% LinkedIn stock.
Founded in 1995, lynda.com is a subscription-based service that offers education on a wide variety of topics from web design and screenwriting to database management and interior design. The company had not taken much funding for its first 18 years, but began to raise with a $103 million round in 2013. More recently, lynda.com raised $186 million in January 2015 for its second major round.
LinkedIn shares were up 1.2% in premarket trading.
Eric Robison, CEO of lynda.com, said the acquisition represented a chance to bring lynda.com's education to a wider audience.
"In LinkedIn, we have found an incredible partner who shares our vision and passion for empowering people around the world to make real change in their lives through access to information, learning and professional development," he said in a press release.
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