Linkedin Makes It’s Biggest Acquisition Ever, Acquires Bright For $120 Million
Linkedin released an amazing fourthQ earning report of 447.2$ million that beat the wall street analysis predictions. Shortly after their announcement, Linkedin announced that they will buy the startup Bright for $120 million, made up of 73 percent stock and 27 percent cash. Bright is a job matching service that makes job matching with employers easy. Bright’s employee will continue to work for Linkedin under their engineering and product department.
Bright founder Eduardo Vivas said that the main reason that they accepted the offer is because they felt that Linkedin will assist them in giving a bigger impact to society. The startup Bright, gets approximately 7 million unique visitors and admits that they have problems scaling those users. They believe that with Linkedin’s help they can take their talents to another level. Before the offer from Linkedin, Bright has raised over $20 M in financing from Passport Capital, Toba Capital and angel investors.
Most people use Craigslist or Monster when it comes to tedious job hunting, but Bright makes it easy to match you with specific jobs. Bright, is a service that utilizes machine-learning algorithms to recommend jobs to those looking for work. It also uses data-driven matching technology to make sure that users aren’t finding irrelevant listings.
Linkedin made a few acquisitions before Bright, but none of them were anywhere near what Linkedin paid for this job hunting startup. Linkedin’s previous acquisitions include Slidehsare and Pulse. Linkedin, itself, already has a powerful job searching platform. It would be interesting to see how they can integrate Bright’s database and employer hiring solutions in their existing product.
Bright uses an in depth method to help employers find the correct individual for the position. The algorithm will return the employers a “Bright Score” which will tell the employers exactly how qualified is this individual for the job. The platform isn’t cheap to use though, the very basic package starts at 219$/month and this only allows you to post one job at a time. The next pricing model is the “Plus” plan which allows you to post 3 jobs at a time for 469$/month. This can be extremely pricey for smaller business or firms looking to seek talent. Other full HR service startups out there after offering the same solution for about the same price.
As of now the startup will continue to be available. You can search for a job or post up a job directly at their website here: