MAYA KOSOFF
LinkedIn just purchased Lynda.com, an online learning company, for $1.5 billion, the company announced on Thursday.
Founded in 1995 by Lynda Weinman and her husband, Bruce Heavin, Lynda.com lets users learn business, technology, software, and creative skills through videos. People can access Lynda on their own, and corporations and schools can purchase subscriptions.
Weinman serves as the company’s executive chairman. Eric Robison has been Lynda.com’s since 2007. Previously he worked at the consulting firm IdeaTrek and Paul Allen’s Vulcan Inc.
“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,” Weinman wrote on LinkedIn.
The deal, a cash-stock blend, is expected to close sometime this quarter, according to a press release. Most of Lynda.com’sloyees will join LinkedIn.
The acquisition will let LinkedIn’s 350 million users access the platform for skill-building and education, LinkedIn CEO Jeff Weiner said Thursday in a LinkedIn post.
“We get so excited about the possibilities that could come from the integration of lynda.com and LinkedIn,” LinkedIn head of content products Ryan Roslansky said.
Read the rest of the story at Business Insider