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LinkedIn buys content sharing platform SlideShare for 119 million USD

05-04-2012 09:27 BJT

SAN FRANCISCO, May 3 (Xinhua) -- Business-related social networking site LinkedIn on Thursday announced that it has acquired professional content sharing platform SlideShare for about 119 million U.S. dollars.

The transaction is valued at approximately 118.75 million dollars, subject to adjustment, in a combination of nearly 45 percent cash and 55 percent stock, said LinkedIn in a press release.

The acquisition is expected to close during the second quarter of 2012.

"Presentations are one of the main ways in which professionals capture and share their experiences and knowledge, which in turn helps shape their professional identity," LinkedIn chief executive officer Jeff Weiner said in a statement.

"These presentations also enable professionals to discover new connections and gain the insights they need to become more productive and successful in their careers, aligning perfectly with LinkedIn's mission and helping us deliver even more value for our members," he added.

Launched in October, 2006, SlideShare was originally meant to enable business users to share slides among employees more easily and now it has expanded to a hosting service supporting documents, videos and web-based seminars.

According to statistics from market research firm comScore, SlideShare had nearly 29 million unique visitors in March, ranking it among the most heavily trafficked sites for professional content.

LinkedIn, the world's largest professional social networking site with 161 million members worldwide, on Thursday also reported that its revenue for the first quarter reached 188.5 million dollars, and earnings per share was 15 cents excluding some items.

LinkedIn's results blew past analysts' estimates for the quarter as Wall Street expected earnings per share of nine cents on revenue of 179 million dollars.

Editor:Wang Lingfei |Source: Xinhua

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