LinkedIn, the professional networking site is ready to buy the online training site Lynda.com a deal that would help more than 300 million members. Lynda.com is a prominente-content provider in the areas such as business, technology and creative skills.
It would be a USD 1.5 billion deal with 52 percent in cash and 48 percent in stock. Considered by far the largest acquisition for LinkedIn, the process will be completed during the second quarter. Amid all this speculation, the shares of LinkedIn Corp closed up $3.88 at $256.14
Though LinkedIn’s main objective is to create a network of professional people, but over the years, it has transformed itself as a networking site for jobs and career opportunities. It boasts 3 million jobs on its site. Jeff Weiner, CEO, LinkedIn, said, “The mission of LinkedIn and the mission of lynda.com are highly aligned. Both companies seek to help professionals be better at what they do.
Lynda.com’s extensive library of premium video content helps empower people to develop the skills needed to accelerate their careers. When integrated with the hundreds of millions of members and millions of jobs on LinkedIn, lynda.com can change the way in which people connect to opportunity.”
Lynda will be part of the LinkedIn and shall provide online resources to the members of the LinkedIn. Interestingly, it will also be included in LinkedIn’s Economic Graph that provides a map of the right people, right jobs and right skills. The approach is to connect the right talent with the right kind of jobs. Lynda is expected to bridge the existing gap.
Lynda’s online courses are humongous. It offers courses in 3D animation, audio and music editing, web design and development, computer programming, CAD, IT, marketing, photography, video production and editing, educational services, business skills etc. While the basic subscription costs around USD 25 a month and USD 250 a year, its premium subscription is USD 37.50 per month and USD 375 a year. It also provides 10 days free unlimited access where one can easily cancel, upgrade or downgrade online mode at any time. The paid membership provides access to 3437 online courses. The courses are provided in English, German, French, Spanish and Japanese. Lynda also offers its online courses to corporate, government and educational institutes through its different products such as lyndaEnterprise, lyndaPro, lyndaCampus, lyndaLibrary and lyndaKiosk.
The nature of access to contents is not made public so far. There is no information whether LinkedIn members will automatically join the training courses free of cost or there will be a subscription option. But there are speculations that Lynda.com shall remain as a separate and independent entity. Both Lynda and LinkedIn have identified that the skill gap is growing issue in the global workforce. The partnership will provide a strong technical knowhow to the members that will not only enhance their CV, but also stimulate the global job market and the economy.
Lynda.com, founded in 1995, is situated in Carpinteria, California and is funded by Accel Partners, Spectrum Equity, TPG Capital and Meritech Capital Partners.