Posted by Search Concepts on August 16th, 2010 0
Posted in Web |
LinkedIn has just made its first ever acquisition since passing the $2 billion valuation mark a few weeks ago. The social media company has just acquired mSpoke, a buying recommendation service, for an undisclosed amount of money.
Barely two weeks has passed since LinkedIn made headlines as another company, Tiger Global Management, reportedly acquired a 1% share of the business social network worth over $20 million. Doing the math, the value of the whole company was estimated to be around $2.2 billion.
The acquisition is viewed as a very strategic move for the company as it plans to improve and upgrade its website following the new investments it entered into. The acquisition of mSpoke is more of a technological upgrade since the company primarily wants to enhance customer experience and keep their visitors to the website for as long as possible.
LinkedIn is considered as one of the world’s “largest professional networks with over 75 million members” all around the world. The integration of the mSpoke service is a move to take advantage of the shared focus that both services favor when it comes to generating relevant customer traffic to their websites.
“We’re actively investing in solutions that help deliver valuable professional insights to LinkedIn members. The addition of mSpoke’s talented team of technologists makes it an even more compelling opportunity for LinkedIn,” states Jeff Weiner, chief executive officer of LinkedIn.
Aside from this acquisition, LinkedIn has also been on a spree with regards to revamping the layout and services of their website. They particularly added several social media features like an improved Groups feature that has “Likes”, “Follow” and “Discuss” options. These options are actually being done with the patterns of popular social networking sites like Facebook and Twitter in mind. They also added a new link sharing option in hopes of getting relevant news to the website.
Over the next few months, the company plans more additions to revamp its current LinkedIn layout. This is primarily to enhance customer experience when using the website, and to compete more competitively in the heavily-laden social media landscape.
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