Out of the blue, Microsoft announced that it will acquire LinkedIn for a massive $26.2 billion in an all-cash transaction ($196 per share). Company co-founder and controlling shareholder Reid Hoffman and CEO Jeff Weiner fully support the deal. Weiner will remain as CEO and will report to Microsoft head honcho Satya Nadella.
The business-oriented social network boasts 433 million members and is growing 19% year over year. It gets 105 million unique visitors each month and 60% of users go through the newly released app. The network currently hosts 7 million active job listings, which represents a 101% growth YoY.
Hear Nadella and Weiner talk about the acquisition for more insight.
Just to put the $26.2 billion number in perspective. Facebook spend $19 billion for WhatsApp, at the time it had 450 million users (so about the same as LinkedIn), but has grown to 1+ billion since.
Google bought Motorola Mobility for $12.5 billion, while Microsoft's Nokia acquisition was a "mere" $7.2 billion. The Redmond company spent more on Skype, $8.5 billion (the company boasted 660 million users at the time).