LinkedIn, a social networking site for professional has just bought Lynda.com, an online learning company, for $1.5 billion, on Thursday, according to a press release sent to Businesscabal.com by email.
The online learning company, Lynda.com, was Founded in 1995 by Lynda Weinman and her husband, Bruce Heavin, the site allows users learn business, technology, software, and creative skills via videos. Individuals can access Lynda on their own, and corporations and schools can purchase subscriptions.
Weinman is the executive chairman of the company and Eric Robison has been the company’s CEO since 2007. Previously he worked at the consulting firm IdeaTrek and Paul Allen’s Vulcan Inc.
“This is a moment in history when people can learn anytime, anywhere, and with no boundaries. We believe in LinkedIn’s future stewardship and vision and feel that we have found a perfect cultural fit for our mission,” Weinman said on LinkedIn.
The deal, a cash-stock blend, is expected to close sometime this quarter, according to a press release. Most of Lynda’s employees will join LinkedIn.
The acquisition will let LinkedIn’s 350 million users access the platform for skill-building and education, LinkedIn CEO Jeff Weiner said Thursday in a LinkedIn post.
“We get so excited about the possibilities that could come from the integration of lynda.com and LinkedIn,” LinkedIn head of content products Ryan Roslansky said. “Imagine being a job seeker and being able to instantly know what skills are needed for the available jobs in a desired city, like Denver, and then to be prompted to take the relevant and accredited course to help you acquire this skill. Or doing a search on SlideShare to learn about integrated marketing and then to be prompted with a lynda.com course on the same subject.”