Social networking website for working professionals, LinkedIn, announced a $118.75 million deal to buy SlideShare service for online hosting of PowerPoint, Keynote and other presentations. Deep Nishar, Senior Vice President, Products and User Experience, LinkedIn said in a blog post that the two internet companies have been working closely to help professionals be more effective.
SlideShare will add to LinkedIn in a similar manner that Instagram had done to Facebook, believe industry observers such as Madan Sanglikar, CEO, AD2C.
In a conversation with exchange4media, Sanglikar said, “We see a significant consolidation in the digital medium today and we will see more such deals happening in the near future. LinkedIn could have either created or bought a professional site but buying option was better in this case. SlideShare is already important in the digital domain. It is a win-win situation for both the players.”
It is understood that SlideShare users can continue to use its service without much change in the service or format post the acquisition. SlideShare India received close to nine million content uploads and 29 million monthly unique visitors. The five-year old document sharing website operates from San Francisco and New Delhi.
“LinkedIn has been extremely strong on professional people data and has various extensions of interest as well but it sorely lacked a large pool of archival and valuable content. SlideShare, as a content sharing platform, fills that void perfectly,” said Sanjay Mehta, Joint CEO, Social Wavelength.
He added, “LinkedIn has a war chest of cash and an appetite for acceleration. And from the point of adding more value to its large target group of professionals, the addition of Slideshare makes the most sense.”
LinkedIn extensions include the likes of Groups and Company Pages and Q&A sections. All of these are either company promotional content or short term transactional content.
Commenting on the acquisition, Rashmi Sinha, CEO, SlideShare, wrote in her blog, “I firmly believe that SlideShare will grow faster with LinkedIn. I have watched as LinkedIn has grown from being a place to share your resume to a much richer site, where you go to keep up with what your professional network. We like the path they are on and are excited to join them on this journey.”
Sinha will continue to work with the company and develop new features. “Over time you will see some integration that take advantage of the great fit between SlideShare and LinkedIn,” she stated.
Jeff Weiner, CEO, LinkedIn during his India visit last month, had informed that LinkedIn has close to 161 million members and 107 million monthly unique visitors. India is an important strategic market for both companies. India is the second largest market for LinkedIn with over 14 million users.