Microsoft and LinkedIn is holding a joint conference today, June 13th with Satya Nadella, Jeff Weiner and Microsoft CFO Amy Hood and General Counsel Brad Smith—to announce of it buying LinkedIn Professional social networking site for $196 per share in an all-cash transaction valued at $26.2 billion.
A Mountain View, Calif.-based LinkedIn, is the world's largest and most valuable professional social network site that was founded in 2002. The professional network currently serves to 433 million members worldwide with 19 percent growth over year (YOY).
"The LinkedIn team has grown a fantastic business centered on connecting the world's professionals," Nadella said. adding, "Together we can accelerate the growth of LinkedIn, as well as Microsoft Office 365 and Dynamics as we seek to empower every person and organization on the planet."
Microsoft in its press release acknowledges that LinkedIn is the world's largest and most valuable professional network, and also mentions about LinkedIn's new version mobile app that has led to 49% growth YOY to an 60 percent increased mobile usage.
Further, it also notes of enhancement of the LinkedIn's newsfeed "to deliver business insights."
Some more figures of LinkedIn's growth include:
9 percent growth YOY —more than 105 million unique visiting members per month
34 percent growth YOY —more than 45 billion quarterly member page views
101 percent growth YOY —more than 7 million active job listings
The professional network company had rolled out "a new version of its Recruiter product to its enterprise customers as well as acquired a leading online learning platform called Lynda.com," Microsoft noted.