The professional social network, set to buy Lynda.com, an online learning platform that was developed in 1995 by (until recently) former CEO, Lynda Weinman. Lynda.com has long been an online authority on teaching subjects such as Photoshop, basic HTML, CSS, management practices and many more. It also offers video tutorials from industry experts.
According to a set of financial records that were made accessible to the public by the two companies, the procurement is valued at $1.5 billion total, combining 52 percent cash payout and 48 percent stock. The deal is scheduled to close at an undisclosed date within the second quarter of this year. It is expected that as part of the deal, close to all Lynda employees will join LinkedIn.
LinkedIn CEO, Jeff Weiner explained on the company website that acquiring this new education resource will only work towards his lifelong dream of connecting both old and young job seekers with the specific jobs that they seek out.
According to the LinkedIn Head of Content Product, Ryan Rolansky, both present and future job seekers now have the opportunity to learn about the skills required for the jobs they aspire to apply for. Additionally, through the acquisition of Lynda, they can learn some of the skills that they require in order to qualify for the jobs of their dreams.
For now, LinkedIn isn’t letting up on what exactly it intends to do with the education resource, but this will not affect the current workings of the Lynda site. Students and other interested learners can still access the site as usual.