Though a not-so-great earnings forecast cost LinkedIn 30% of its stock value the professional network is still one of the most solid companies in the social space. It has 414 million members worldwide, and 57% of traffic now comes from mobile. And by means of its ongoing acquisition strategy LinkedIn is transforming itself from simple network into a full-blown education and career hub.
Professional social network LinkedIn announced its intention to acquire online learning company Lynda.com for around $1.5 billion. The deal is expected to close during the second quarter of 2015 and will be a combination of 52% cash and 48% stock. LinkedIn has currently around 350 million members worldwide.
The upcoming launch of the Chegg Career Center is the next logical step for a company that aims to become the one-stop-shop for everything higher education.
The transition from textbook rental juggernaut to student hub began with Dan Rosensweig taking over as CEO in early 2010. Under his leadership Chegg went on an acquisition spree prior to its IPO last year. The goal was to turn a business that essentially had two peaks per year into a portal that would be used by students 300 days per year.
Renaissance Learning got acquired by private equity firm Hellman & Friedman on Monday for $1.1 billion in cash. The deal was announced today.
The acquisition comes less than a month after Google Capital invested $40 million in Renaissance Learning, valuing the company at $1 billion. Google Capital plans to stay on board as investor.
“The acquisition of Tell Me More is an exciting way to close out what has been a transformative year for Rosetta Stone.” Steve Swad, President and CEO of Rosetta Stone
Indeed. It seems that this year ends with a bang for the language learning market as Rosetta Stone announced the acquisition of its French competitor Tell Me More for $28 million.