LinkedIn plans to break into the $US50 billion business-to-business marketing space and turn its products into a $US1 billion business by 2017, according to internal documents sent to Business Insider.
In July, LinkedIn revealed plans to acquire a business-marketing company called Bizo for about $US175 million, moving it a step closer toward its goal of becoming “the most effective online platform form marketers to engage with professionals.”
Last quarter, LinkedIn reeled in $US106 million in revenue from its marketing products, up 44% year over year. Now, though, the company wants to expand beyond its current media and content marketing products to build a B2B marketing platform using its own, and Bizo’s, tools.
“Our long-term ambition is to build an integrated marketing and sales platform that provides a simple and effective way to reach audiences, nurture prospects, and acquire customers,” the document says.
Shannon Stubo Brayton, LinkedIn’s VP of corporate communications, declined to comment on the document.
Here’s how LinkedIn plans to build a $US1 billion B2B marketing business by 2017:
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