LinkedIn is all set to acquire Lynda.com, a prominent online learning platform, for almost $1.5 billion as the popular social networking site is expanding expands their services for professional users.
Online Learning On LinkedIn
LinkedIn will soon host all the courses offered by Lynda.com on their platform, including instructional video tutorials that will help users to hone their business skills, software skills, technology skills and creative skills. This just might prove to be an effective push in recent years by technology firms into online business study. With this acquisition, the social networking giant will be able to successfully shift to the fast evolving and developing online learning market. For instance, if you are a jobseeker, then you can utilise the network to learn about what are the essential skills required for available vacancies in a specific sector and pursue the relevant course in the same platform.
Lynda.com, based in California, has effectively developed over 6,300 online courses along with 267,000 video tutorials. If you wish to be a user, then you will be required to pay a subscription of around $375 per year to access the online courses designed by over 1,000 authors. Leading global business schools and universities, such as Johns Hopkins Carey Business School, McCombs School of Business and Harvard have already registered.
LinkedIn Is Expanding
As it is, LinkedIn is one of the most popular social networking sites used by professionals, graduates and even MBA students for job hunting. It also enables the users to showcase digital learning certificates through their profiles from various online education platforms like Coursera, edX and StraighterLine. In the past year, the company introduced a new college ranking system that relied on the career success of its users and further extended with the 2015 graduate school rankings. With this acquisition, LinkedIn will also gain a firm foothold in the potentially profitable corporate training sphere. It will be able to utilise the existing business client base of Lynda which includes outdoor clothing firm Patagonia and the US-listed media group Time Warner.
Lynda has already sold 5 million licences to enterprise and professional users, which includes clients from all the Ivy League colleges and nearly 50 per cent of the Fortune 50. According to LinkedIn CEO Jeff Weiner, the assemblage of premium video offered by Lynda.com enables users to develop essential skills required to boost one’s career. He said “When integrated with the hundreds of millions of members and millions of jobs on LinkedIn, Lynda.com can change the way in which people connect to opportunity.”
Eric Robison, chief executive of Lynda.com, believes that LinkedIn shares the same passion for making people empowered as the company so that they can effectively change their lives with easy access to education and professional growth.
Making Education Simpler
Online education has developed substantially as EdTech companies have joined forces with leading educational institutes to deliver specific academic content on the internet. The online business study programmes offered by Lynda range from social media marketing and project management to data analysis and leadership development. The learning platform was established in 1995 is a school in California. However, it has grown significantly since them into a lucrative learn-by-video company, obtaining most of the almost $290 million funding in the last 2 years. It is expected that the acquisition of Lynda by LinkedIn will be completed by the second quarter of the year.