LinkedIn announced it will acquire presentation service SlideShare for $118.8 million in cash and stock.
SlideShare will continue to operate as a standalone service, while LinkedIn will integrate some of its features.
“The SlideShare acquisition is comprised of about 45 percent cash and 55 percent stock, and is slated to close this quarter, LinkedIn said. Founded in 2006, SlideShare hosts more than seven million presentations and fits LinkedIn’s mission of ‘making professionals more productive,’ executives said during a conference call,” according to the Wall Street Journal.
“Revenue has surged at LinkedIn, which sells recruiting tools to businesses and offers premium subscriptions to users eager to network,” adds the article.
LinkedIn’s net revenue more than doubled in Q1 to $188.5 million. Revenue from premium subscriptions jumped 91 percent and revenue from recruiting services more than doubled.
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