LinkedIn has just announced the acquisition of Lynda.com, an online learning company, for about $1.5 billion. Mountain View-based LinkedIn said the deal will be funded 52% with cash and 48% with stock, and is expected to be closed in the second quarter of this year. The deal will allow LinkedIn’s 350 million users access the learning platform for skill-building and education.
Lynda.com offers online courses for business, technology, software and creative skills through high-quality, expert-led video instruction. It customers include individuals, businesses, government and nonprofit organizations.
Founded in 1995 by Lynda Weinman and her husband, Bruce Heavin, the site is a subscription-based online learning portal, where members can learn business, technology and creative skill sets. It offers a premium subscription for members in corporate, government and organizations.
Lynda.com raised its first outside investment- $103 million in growth equity from Accel Partners and Spectrum Equity, and with additional funding from Meritech Capital Partners. On January 2015, Lynda.com has made a huge announcement, it raised $186 million in financing from investment group TPG Capital.
The professional networking site has been on somewhat of an acquisition rampage over the last few months. The Lynda.com deal comes shortly after LinkedIn acquistion of predictive analytics startup Refresh and online recruiting and talent acquisition company Careerify.
LinkedIn CEO and founder Jeff Weiner wrote in a LinkedIn post:
“LinkedIn has the members, the jobs, a unique understanding of the skills required to do those jobs, and a publishing platform that can be accessed by roughly 350 million people to share professionally relevant knowledge. lynda.com’s service has the premium library of skills-based courses. Together, we can bring opportunities and access to knowledge that everyone deserves. And together, we can more easily build the Economic Graph by mapping together the people, jobs, skills, and knowledge that are core components of it.”