LinkedIn, the social media network for professionals and job seekers, has purchased the online learning company Lynda.com for $1.5 billion. LinkedIn is now focusing on developing job skills for its members and has acquired Lynda.com to aid in the goal.
Lynda.com offers video-based curriculum aimed at improving skills related to business, technology, and creative pursuits, and in multiple languages. It can be accessed by individuals, schools, or corporations, with subscriptions for $250-$375 per year, reports Reuters. Lauren Gensler of Forbes quotes LinkedIn CEO Jeff Weiner on the value of the deal:
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.
The integration of the two services will allow users to search what skills are needed by workers in a particular locale, and then use Lynda.com’s videos to acquire those skills. Ryan Roslansky, LinkedIn’s head of content products, is excited about the collaborative possibilities, reports Business Insider:
We get so excited about the possibilities that could come from the integration of Lynda.com and LinkedIn. Imagine being a job seeker and being able to instantly know what skills are needed for the available jobs in a desired city, like Denver, and then be prompted to take the relevant and accredited course to help you acquire this skill. Or doing a search on SlideShare to learn about integrated marketing and then to be prompted with a Lynda.com course on the same subject.
Lynda.com was founded in 1995 by Lynda Weinman and her husband Bruce Heavin. She said of the acquisition:
This is a moment in history when people can learn anytime, anywhere, and with no boundaries. We believe in LinkedIn’s future stewardship and vision, and feel that we have found a perfect cultural fit for our mission.
Lynda.com’s CEO since 2007, Eric Robison, said:
In LinkedIn, we have found an incredible partner who shares our vision and passion for empowering people around the world to make real change in their lives through access to information, learning and professional development.
This is LinkedIn’s largest acquisition so far, writes Gina Hall of the Silicon Valley Business Journal.