LinkedIn, which saw both profits and revenue essentially double versus a year ago, said Thursday that it has acquired SlideShare, a service for sharing presentations across the Web, for $118.75 million.
The deal combines a pair of professional services firms. LinkedIn is usually considered to be the social network for professionals, while SlideShare's strenght is in sharing presentations, usually crafted by those same professionals.
"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 chief executive Jeff Weiner, in a statement. "These presentations also enable professionals to discover new connections and gain the insights they need to become more productive and successful in their careers, aligning perfectly with LinkedIn's mission and helping us deliver even more value for our members. We're very excited to welcome the SlideShare team to LinkedIn."
LinkedIn also returned a sparkling quarter, marked by $5.0 million in net profit, versus $2.1 million compared to a year ago. LinkedIn also reported $188.5 million in revenue, a 101 percent increase over last year. As of March 31, LinkedIn members totaled 161 million members in over 200 countries and territories, with 61 percent located outside the United States.
"LinkedIn's solid performance in the first quarter built on the company's momentum in 2011," Weiner said. "We saw strength across all key metrics from member signups and engagement to significant revenue growth across our three product lines."
LinkedIn breaks out its business into three categories: hiring solutions, marketing solutions, and its premium subscriptions business. All three demonstrated growth of at least 70 percent, with hiring solutions, or LinkedIn for employers, generating $102.6 million in revenue, and an increase of 121 percent.
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