LinkedIn has acquired Bizo for $175 million.
Bizo is a business audience marketing firm that offers measurable display and social advertising programs specifically focused on professional audience segments. LinkedIn, which now has more than 300 million members, is apt to leverage Bizos' technology to bolster advertising on its site.
"We have been a LinkedIn partner for a while now and it became clear that our respective missions and cultures are really well aligned," said Russell Glass, the CEO of Bizo, which was founded in 2008 in San Francisco.. "I couldn't be more thrilled that we are coming together to accelerate our ability to reach professional audiences, nurture prospects, and acquire customers in truly powerful ways."
"It's exciting for us to bring Bizo's expertise and technology into our ecosystem," added Deep Nishar, LinkedIn's senior vice president of product. "Our ability to integrate their B2B solutions with our content marketing products will enable us to become the most effective platform for B2B marketers to engage professionals."
Many members of the Bizo team are expected to join LinkedIn, according to the two companies.
Barely over a week ago LinkedIn acquired Newsle in an effort to become more social. The technology behind Newsle, which combs the web for content that mentions users' contacts or public figures, could help LinkedIn on its quest to be percevied as more than just a digital resume.
Newsle was founded in 2011. It has raised a total of $2.6 million in angel and venture capital.