LinkedIn just bought a business marketing company called Bizo for $US175 million.
LinkedIn’s David Thacker writes that Bizo’s team has been part of its API Partner Program for a while and the acquisition will help it establish “a comprehensive B2B marketing platform for brands.”
Bizos helps advertisers find and target new businesses.
This news comes soon after LinkedIn announced that it was buying Newsle last week. LinkedIn is funding this deal 90% with cash and 10% with stock.
Here’s the full blog post from Bizo, which was founded in 2008 and has raised about $US20 million in capital:
When we started Bizo just over six years ago, our goal was to build an unbeatable team, culture and product to help B2B marketers drive greater revenue and results. We have come a long way towards delivering against this vision and at the same time see a huge amount of opportunity ahead of us.
As we focus on the road ahead, I couldn’t me more thrilled to share the exciting news that LinkedIn has agreed to acquire Bizo.
We have been a LinkedIn partner for a while now, and when we started to develop that relationship a few years ago, it became readily apparent that we shared very strong and positive employee cultures, and that we both had a similar way of thinking about building out our respective businesses, with core customer-first and member-first mindsets.
LinkedIn’s mission is to connect the world’s professionals to make them more productive and successful, while Bizo’s is to help B2B marketers get to the right people. We realised that our respective missions are incredibly well aligned, and we believe that combining forces will accelerate our ability to execute against the huge opportunities ahead. The combination of LinkedIn and Bizo greatly increases our ability to be the most effective platform for B2B marketers to reach their audiences, nurture prospects and acquire customers.
We see incredible opportunities in the coming years to continue to scale our mission beyond what we ever thought possible — and create a big win for our customers, employees, and LinkedIn members. For more context on the announcement from LinkedIn, please see their blog post.
Thanks to all of the Bizo team, customers, partners, shareholders and supporters for your incredible dedication and support over the past 6+ years. We have a lot of exciting work ahead of us — stay tuned!