LinkedIn has just announced a deal for $175 million Bizo agreement. Bizo company’s business is to help advertisers accurately find companies and professionals in need, thus accurate advertising.
LinkedIn, said the deal worth $175 million, which contains 90% of the cash and 10% of the shares.
as early as 2008 Bizo after independence from the profile business, the company has raised from investors totaling $20 million in Venture Capital, which includes the Bessemer Venture Partners, Venrock, and the lack of Capital investment of the company. Similarly, it also have the $12.5 million of debt.
Bizo can provide for accurate positioning analysis of advertisement, as early as the beginning of 2013, the company revealed Bizo in the past year has brought $22 million in revenue.
mentioned acquisition in a blog post, led the British David chuck (David Thacker) points out that the enterprise to enterprise’s sustained growth ads on LinkedIn, especially Sponsored Updates AD unit. According to a report by the LinkedIn, in the first quarter of 2014 Marketing Solutions division (Marketing Solutions) brought $101.8 million in revenue for the company, is increased by 36% from a year earlier. Bizo technology can help to bring the improvement of the quality of the product.
chuck in the blog wrote: “this is our goal, to integrate the Bizo products into our marketing products into a new brand, to become a more powerful brand tools and professionals to build a strong relationship between chain”. He also pointed out that although Bizo will “respect” the existing contract, however, led the British did not plan for Bizo data solutions business, it will no longer provide data to “grandfather” old customers.
LinkedIn also said that the deal will close in the third quarter of this year, and then will be sent with the acquisition of many Bizo team members to join the British.
LinkedIn products and user experience, senior President of Deep Nishar said: “this is a exciting news, acquisition Bizo will be the professional knowledge and technology in our LinkedIn ecosystem, in after the success of the acquisition, our ability to integrate their B2B solutions, integrated in the content of the marketing our products. And this will enable us to become one of the most effective B2B professional marketing platform.”