LinkedIn announced on Thursday that they are acquiring job search startup Bright for $120 million. This is LinkedIn’s largest acquisition thus far. The professional social network acquired SlideShare for $119 million and Pulse for $90 million. This deal was paid for with 73% in stock and 27% in cash.
Bright uses algorithms to assign a score based on how good of a match it is between a candidate and the job. This could be a great way to filter out unqualified candidates. This acquisition makes sense because LinkedIn makes most of their revenue from “Talent Solutions.”
Bright raised around $20 million in funding from Toba Capital and Passport Capital. The deal is expected to close by the end of the first financial quarter.
[Source: LinkedIn Blog/Recode]