NEW YORK (AP) — Microsoft says it is buying professional networking service site LinkedIn for about $26.2 billion.
LinkedIn, based in Mountain View, California, has more than 430 million members. Users can network with professionals, upload their resumes and search for jobs on the site.
Microsoft Corp. says it is paying $196 for each share of LinkedIn Corp., a 50 percent premium of the stock’s closing price of $131.08 on Friday.
LinkedIn shares soared 49 percent before the stock market opened Monday.
Copyright 2016 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
Wow, has LinkedIn actually ever helped anyone get a job?
Microsoft usually ruins companies after it buys them (see: Skype). But LinkedIn was already horrible.
This will be good for consumers, LinkedIn employees, and privacy rights! And it will cure headaches, soreness, baldness, lumbago, and women’s afflictions of all kind!
So I guess its time to dump linkedin and use another site. I used Direct Tv for 15 years. ATT bought them and I dumped the servive.
I hate LinkedIn. This sounds like a very bad decision. Microsoft isn’t doing itself any favors trying to get ahead in the market with this purchase. What?