February 7, 2014
LinkedIn is shelling out $120 million to acquire data provider Bright.
The professional social network will dole out roughly $32 million in cash and will pay the remainder of the settlement in stock options.
Bright, a firm that uses data insights and matching technology to connect prospects and employers, will help LinkedIn to improve online matches as well as increase its user base.
“What LinkedIn does best is connect talent with opportunity at massive scale,” said LinkedIn senior vice-president of products and user experience Deep Nishar. “By leveraging Bright’s data-driven matching technology, machine-learning algorithms and domain expertise, we can accelerate our efforts and build out the Economic Graph.”
Eduardo Vivas, who founded Bright in 2011, said the company is excited to join LinkedIn because both firms share a common vision.
“We share LinkedIn’s passion for connecting talent with opportunity at massive scale. And we agree that the old models for online recruiting are hopelessly broken,” Vivas wrote in a blog post.
“Our focus in this endeavor was always the individual — the broken hiring process hurts our economy at a macroeconomic level, but the most acute pain is at the household level. Joining an organization with the talent and resources of LinkedIn will only serve to further ignite our passion for solving this problem. We may become less visible than we were before, but it’s now more likely than ever that you’ll feel the impact of our work.”
A number of Bright employees, including those from its engineering and product divisions, will make the move to LinkedIn.
Bright’s users and Hiring Solutions customers will be able to access existing data on its website through Feb. 28.