LinkedIn buys Bizo accelerating its plans to become a comprehensive B2B platform
What: Professionals' social network LinkedIn will buy business audience marketing provider Bizo for US $175 million, 90 percent in cash and the rest in stock.
Why it matters: This is LinkedIn’s second acquisition within two weeks, as it also bought start-up Newsle a week ago. The Business Social Network is aiming to become a comprehensive B2B Marketing platform.
LinkedIn, a social network for professionals, is about to buy business audience marketing providerBizofor US $175 million, 90 percent in cash and the rest in stock to close in the third quarter.
Formed in 2008, San Francisco-based Bizo has been part of a LinkedIn partner program. Bizo allows marketers adapt ads for professionals, and helps measure the effectiveness of the ad campaigns. LinkedIn will incorporate Bizo's Media Solutions and Multichannel Nurturing products, but doesn't plan to carry over its Data Solutions, according to a LinkedIn blog post.
This is LinkedIn’s second acquisition within two weeks, as it also bought start-up Newsle a week ago.
“it’s exciting for us to bring Bizo’s expertise and knowledge into our ecosystem,” Deep Nishar , LinkedIn’s Senior Vice President for product and user experience , said in a statement.
The acquisition will "enhance our ability to offer a comprehensive B2B marketing platform for brands," the blog post said.
Surprisingly, the deal comes a day after Yahoo Inc. announced that it is buying Flurry Inc., which helps companies make mobile apps and design mobile ad campaigns.