Microsoft buys LinkedIn for $26.2 billion | LinkedIn Co-founder Reid Hoffman Joins Microsoft’s Board
Reid Hoffman, the co-founder of LinkedIn and a partner at venture capital firm Greylock Partners, is now a member of Microsoft’s board, which also includes Microsoft founder Bill Gates, Gap executive vice president Teri List-Stoll, and Microsoft chairman John Thompson.
Tech giant Microsoft closed its $26.2 billion acquisition of the business social network in December 2016. Estimates place Microsoft’s US net digital ad revenues to total $2.77 billion in 2016, while LinkedIn’s will total $0.73 billion. These figures are projected to grow to $3.38 billion and $0.91 billion in 2018, respectively. Pew Research Center’s “Social Media Update 2016” estimated that 29% of US adults are LinkedIn users.
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