The largest social network for professionals, LinkedIn is now all set to enter the education market with a bang. They purchased Lynda.com, which is perhaps the best goto source if you are into web development, for an eye-popping 1.5 billion.
Lynda was founded in 1995 by technical skill instructional book author Lynda Weinman and co-founder Bruce Heavin. They were the pioneers in e-learning offering a plethora of options for learning HTML, CSS, Photoshop etc. long before any other platform came up!
In a release from the companies, the acquisition is valued at $1.5 billion total, combining 52 percent cash payout and 48 percent stock which closes late this second quarter. All of Lynda’s employees will be joining LinkedIn as a part of the acquisition.
According to the CEO of LinkedIn:
LinkedIn’s fundamental value proposition is connecting people to opportunity. We’ve made significant progress in this area; nearly 350 million members can use LinkedIn to find a job, build a business, and be more successful in their careers. However, matching talent and opportunity is a simplified take on the equation. Without access to education and the ability to acquire skills, many of these opportunities will remain far out of reach for most people.
We believe in LinkedIn’s future stewardship and vision, and feel that we have found a perfect cultural fit for our mission. We are thrilled to be part of something bigger than ourselves, and look forward to helping more people learn the skills that are needed in today’s rapidly changing economic landscape.
There is no word from LinkedIn as to what they plan to do with the education site but for now, it is open to all and offers the same functionalities as before!