Weiner said LinkedIn would remain its own entity in the way that YouTube is relatively independent from parent Alphabet, or Instagram from parent Facebook.
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According to the deal, The CEO of the Microsoft ” Satya Nadella” are confirmed that the “Jeff Weiner” has stayed as a post of CEO of the LinkedIn and it will report me as progress and this deal is confirmed with by the unity with both sides. “I see incredible opportunity for our members and customers and look forward to supporting this new and combined business”, added Reid Hoffman, chairman of the board, co-founder and controlling shareholder of LinkedIn.
The Deal is supposed to be completed by the end of this year.
LinkedIn now has over 430 million members, each using the service to find jobs, make business connections or publish content. The company has offices around the globe and recently opened a Bengaluru office. LinkedIn’s mobile user base has also grown.
It would also have nine per cent growth to more than 105 million unique visiting members per month, 49 per cent growth to 60 per cent mobile usage and 34 per cent growth to more than 45 billion quarterly member-page views.
Concerning the Biggest Deal Nadella said “We are in pursuit of a common mission centered on empowering people and organizations”.
In a video accompanying the acquisition announcement, Microsoft CEO Satya Nadella presented a vision for productivity tools that are connected to a professional network and can help users improve at their existing jobs and find a new ones as well.
For instance, Nadella told The Associated Press that Microsoft’s digital assistant Cortana could mine LinkedIn for helpful data.
“Today is a re-founding moment for LinkedIn”, said Hoffman in prepared remarks. I fully support this transaction and the Board’s decision to pursue it, and will vote my shares in accordance with their recommendation on it. It had forecast its revenue for the full year 2016 to be in the range of $3.65-3.7 billion. We will probably see Microsoft’s business-related apps like Office, Cortana, and Skype eventually being integrated into the service and vice versa, which may be a good thing for LinkedIn eventually.
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But Nadella was reportedly trying to scoop up Salesforce.com a year ago for upwards of $50 billion, a deal that would have added the biggest developer of cloud-based software to a company that was rapidly moving from desktop to web and mobile.
