LinkedIn (NYSE:LNKD), an online professional network that claims to have 161 million members worldwide, announced Thursday it agreed to acquire SlideShare, a slide-based content sharing site.
The transaction is valued at approximately $118.75 million, subject to adjustment, in a combination of approximately 45 percent cash and approximately 55 percent stock. Subject to the completion of customary conditions, the acquisition is expected to close during the second quarter of 2012.
While LinkedIn may be getting excited with this deal, yours truly (Rakesh Raman) had a nightmarish experience with SlideShare a few months ago. My experience is detailed in this article. (Read: How Do I Get Rid of SlideShare?)
Founded in October 2006, SlideShare allows users to uploaded digital presentations. It is also enabling the sharing of presentations across the Web.
“Presentations are one of the main ways in which professionals capture and share their experiences and knowledge, which in turn helps shape their professional identity,” said LinkedIn CEO Jeff Weiner (pictured above). “We’re very excited to welcome the SlideShare team to LinkedIn.”
“We built SlideShare to help professionals share presentations and connect people through content. What we can build with LinkedIn, the largest professional network on the Internet, is the most natural extension of this vision. I am excited about what we can build together,” said Rashmi Sinha, CEO of SlideShare.