LinkedIn slurps B2B marketing bods Bizo for $175m
Mini shopping spree! Network buys 2 companies in 2 weeks
LinkedIn has slurped its second company in as many weeks, splashing out $175m on advertising firm Bizo.
Last week, the professional network bought Newsle, a startup that searches the web for articles about people you know (yes, much like Google Alert), for an undisclosed amount.
Bizo is a marketing firm that specialises in tech measuring display and social advertising programmes and is focused on professional audiences. It has been around since 2008 and LinkedIn has agreed to acquire it for a combination of 10 per cent stock, with the rest in cash. The network is hoping to complete the acquisition in autumn this year.
Deep Nishar, senior veep at Bizo, said in a statement that joining up with LinkedIn would allow the firm's B2B marketers to reach more professionals. The firm uses its own software to find new prospects for marketers and target them with relevant advertising.
“Our ability to integrate their B2B solutions with our content marketing products will enable us to become the most effective platform for B2B marketers to engage professionals,” he said. ®