LinkedIn to buy Bizo in effort to beef up ad business

The acquisition, valued around $175 million, brings new advertising technology that focuses on business users.

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LinkedIn

LinkedIn said Tuesday it has agreed to purchase Bizo, a business marketing company, to bolster its advertising offerings.

In a statement, LinkedIn said it will pay about $175 million for Bizo, a company that makes technology for display and social advertising focused on business customers. The company boasts "proprietary" data management and targeting technology, Linkedin said.

LinkedIn said the company's technology will help to bolster its existing advertising division, which pulled in $101.8 million under its "marketing solutions" group last quarter. The deal will be 90 percent cash, LinkedIn said, and should close in the third quarter.

The move is the latest among social-media companies, which have been increasingly focusing their efforts on advertising. Twitter in June said it agreed to buy TapCommerce, a mobile-advertising technology firm, and has been expanding the ability for companies to sell products within tweets. Facebook as well has expanded advertising options for mobile app developers. And Pinterest has begun offering advertisers the ability to promote content on its site as well.

About the author

Ian Sherr is an executive editor for the west coast at CNET News. He writes about social networking and manages coverage of video games, Internet giants, cybersecurity, the sharing economy, e-commerce and wearable tech. Previously, he wrote about Apple, the PC industry and video games at The Wall Street Journal. He's also written for Reuters and the Agence France-Presse, among others. He's a native of the San Francisco Bay Area, though he knows what real weather feels like too.

 

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