Today, Linkedin has announced its biggest acquisition deal. It has acuired Bright for $120 million. 73% will be paid by stock and rest 27% with cash. Several member of Bright will join Linkedin after the deal closes. Bright will continue to work till February 28.
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Bright.com was launched back in 2010. Bright has an algorithm that analyze job seekers data from resume with job listing and gives bright score to match jobseekers with employers. The only thing bright lacks is the ability to bring its technology to larger marketplace. And this is the reason it is going with LinkedIn.
“We decided to join LinkedIn because of what we lacked – the ability to apply this technology across the entire economy. We share LinkedIn’s passion for connecting talent with opportunity at massive scale. And we agree that the old models for online recruiting are hopelessly broken. Our focus in this endeavor was always the individual – the broken hiring process hurts our economy at a macroeconomic level, but the most acute pain is at the household level. Joining an organization with the talent and resources of LinkedIn will only serve to further ignite our passion for solving this problem,” Eduardo Vivas founder of Bright said in blog post.
LinkedIn’s other major acquisitions include Slideshare for $119 million and Pulse for $90 million.