Thu, Sep. 22, 1:57 PM
- LinkedIn Learning will merge content LinkedIn (LNKD +0.1%) gained through its $1.5B Lynda acquisition with its professional data and network.
- Business and higher education users targeted.
- Over 9K courses available.
- With Microsoft's (MSFT +0.2%) takeover of LinkedIn pending, the former will be looking to further leverage the latter's 450M users in education and other arenas going forward.
- Content overview
- Blog post
Tue, Aug. 16, 7:58 AM
- LinkedIn (NYSE:LNKD) has filed a lawsuit against 100 unnamed individuals for using bots to acquire user profiles from the social network's website, TechCrunch reports.
- The company is going to ask the court to identify them from their IP addresses, as a way to maintain its exclusive hold on users' resumes.
Thu, Aug. 4, 5:20 PM
- LinkedIn (NYSE:LNKD) exceeded revenue and EPS projections in its Q2 report, posting a 31% Y/Y sales ($933M) increase.
- Cumulative members of 450M (+18% Y/Y) and average unique visitors of 106M (+9% Y/Y) per month. Member page views increased 32% and page views per unique visitor increased 21%.
- Talent Solutions revenue of $597M (+35% Y/Y). Marketing Solutions revenue of $181M (+29% Y/Y) with Sponsored Content contributing 60% to the segment. Premium Subscriptions revenue grew 21% Y/Y to $155M.
- Net income of $153M and adjusted EBITDA of $292M (31% of revenue).
- CEO Jeff Weiner: “Continued product innovation drove increased levels of engagement, and strengthened our enterprise offerings. We believe joining forces with Microsoft enables us to further accelerate and scale our ability to deliver value and create economic opportunity for every member of the global workforce.
- CFO Steve Sordello: "LinkedIn delivered another quarter of strong growth. We achieved record levels of operating cash flow, while continuing to invest heavily across our core member and customer value propositions."
- LinkedIn is not providing any outlook regarding future performance due to the pending Microsoft (NASDAQ:MSFT) merger and will consequently also not be holding a conference call on the quarter.
Thu, Aug. 4, 4:08 PM
Wed, Aug. 3, 5:35 PM
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Tue, Aug. 2, 2:05 AM
- Helping finance its planned purchase of LinkedIn (NYSE:LNKD), Microsoft (NASDAQ:MSFT) has raised $19.75B in its biggest ever debt sale and the fifth largest corporate bond sale on record.
- Strong demand helped the company to borrow at lower rates than it paid for the $13B of bonds it raised in October, as portfolio managers search out income.
- Trillions of dollars of sovereign and corporate debt are already trading with a yield below zero.
Sun, Jul. 24, 8:23 AM
- Salesforce (NYSE:CRM) CEO Marc Benioff, who recently lost a bidding war for LinkedIn (NYSE:LNKD) to Microsoft (NASDAQ:MSFT), would have made a stronger bid for the social network had it continued talks with him after its call for final offers.
- Persistent bidding by Salesforce - during the two months before LinkedIn's agreement to negotiate exclusively with Microsoft - ultimately raised the price of the deal by 22%, or $5B.
Fri, Jul. 22, 6:56 PM
- LinkedIn (NYSE:LNKD) has set a special meeting for Aug. 19, to vote on its acquisition by Microsoft.
- In an SEC filing, the company notes that shareholders will also be asked to vote on a nonbinding proposal regarding compensation for its named executives. Earlier reports showed LinkedIn chief Jeff Weiner's hiring package could be worth up to $88M, including $19M-$21.6M for him if he's let go.
- Microsoft's $26.2B offer comes to $196/share in cash. After hours: LNKD +0.7% to $191.26.
Tue, Jul. 5, 11:01 AM
- LinkedIn (LNKD +0.2%) CEO Jeff Weiner's hiring package at Microsoft could be worth as much as $88M, VentureBeat's Chris O'Brien reports, after parsing through a new securities filing.
- Any golden parachutes? If Weiner gets canned before the transaction is completed, he'll receive $19M in payments from LinkedIn, but if he's cut loose after the deal closes, he'll get $21.6M from Microsoft.
- The SEC filing also confirmed that shares of Weiner's LinkedIn stock are worth $138M thanks to Microsoft's $196/share, all-cash offer.
Sun, Jul. 3, 9:20 AM
- A bidding war with Salesforce.com (NYSE:CRM) forced Microsoft (NASDAQ:MSFT) to pay nearly $6B extra last month to seal its planned takeover of LinkedIn (NYSE:LNKD).
- Details of the frenzied bidding were revealed in a filing with the SEC ahead of a shareholder vote to approve the transaction.
- A month-long back-and-forth between the two rivals pushed the value of the all-cash deal to $26.2B, making it the third-largest acquisition in the tech industry.
- Previously: Bloomberg: Salesforce bid for LinkedIn prior to the Microsoft deal (Jun. 16 2016)
Fri, Jun. 24, 12:30 PM
Thu, Jun. 16, 6:03 PM
- Salesforce (NYSE:CRM) was bidding for LinkedIn (NYSE:LNKD) before the professional social network agreed to a $26.2B deal with Microsoft (NASDAQ:MSFT), sources tell Bloomberg.
- There was already speculation Salesforce (currently has a $55.3B market cap) or another third party was vying to acquire LinkedIn, given Microsoft is paying a near-50% premium to where LinkedIn traded before the deal was announced. LinkedIn's recruiting/jobs products would've complemented Salesforce's cloud CRM apps, and its user data could've been integrated with the apps. LinkedIn's Sales Navigator social selling tool already syncs with Salesforce's apps.
- Last year, Salesforce was reported to have held buyout talks with Microsoft that fell apart due to disagreements over price.
Tue, Jun. 14, 5:49 AM
- Moody's has placed Microsoft's (NASDAQ:MSFT) 'AAA' credit rating under review for downgrade following the software giant's deal to buy LinkedIn (NYSE:LNKD) for $26.2B, citing concerns that it would be funded through new debt.
- Why is Microsoft taking out such a big loan if it has enough cash to buy LinkedIn 4x over? Bloomberg's David Kocieniewski says it could lower the tech giant’s tax bill (it will avoid paying a 35% tax rate to repatriate cash from overseas and could also deduct interest payments).
Mon, Jun. 13, 3:20 PM
Mon, Jun. 13, 9:19 AM
Mon, Jun. 13, 8:53 AM
- Microsoft (NASDAQ:MSFT) will fund the deal mostly by issuing debt, with LinkedIn's (NYSE:LNKD) results to be reported as part of MSFT's Productivity and Business Processes segment. EPS is expected to take a minimal hit in fiscals 2017 and 2018, but the deal should become accretive beginning in fiscal 2019.
- The purchase is expected to close this year.
- Microsoft still intends to complete its current $40B buyback plan by year-end.
- Jeff Weiner will remain CEO of LinkedIn, reporting to Microsoft chief Satya Nadella.
- Nadella: "Together we can accelerate the growth of LinkedIn, as well as Microsoft Office 365 and Dynamics as we seek to empower every person and organization on the planet.”
- A conference call is scheduled for 11:45 ET.
- LNKD remains higher by 48.4% to $194.49. Reopened for trade, MSFT is lower by 3.6%.
- Previously: Microsoft buys LinkedIn for $26.2B (June 13)
- Twitter next? TWTR is higher by 4% premarket.