LinkedIn, the world’s first professional social network will now be working under the ownership of technology giant Microsoft but does this raise concerns about users’ privacy?
Microsoft is taking over the ownership for the world-renowned professional social network LinkedIn in a $26.2 billion deal at $196 per share. Microsoft chief executive Satya Nadella said in a statement that “This deal brings together the world’s leading professional cloud with the world’s leading professional network.”
.@Microsoft & @LinkedIn: world's leading professional cloud + world's leading professional network https://t.co/63V90F77Wj
— Satya Nadella (@satyanadella) June 13, 2016
An important point to ponder is that Jeff Weiner will remain the CEO of LinkedIn. The two firms said they had reached a “definitive” agreement that would close later this year, with the support of the LinkedIn chairman and controlling shareholder Reid Hoffman, reports the AFP.
LinkedIn has over 433 million members worldwide helping professionals and job hunters to meet their goals. However, recently the company had its 117-million accounts leaked in a security breach from 2012-13.
What does it mean for LinkedIn users?
The merger itself will be a huge revenue boost for a firm like Microsoft however based on the history of the firm the merger will also be a privacy concern for registered users. Remember, Microsoft was caught sharing personal data of its Skype and Outlook users with the National Security Agency (NSA). One report also revealed how Microsoft was allegedly selling users’ personal data to the FBI hence leaving a question mark over the privacy of LinkedIn users.
$LNKD $MSFT pic.twitter.com/F5c2s4dYV1
— Mark Constantine (@vexmark) June 13, 2016
List of mergers and acquisitions by Microsoft in recent years:
Microsoft has made eight multi-billion-dollar acquisitions including Skype (2011), aQuantive (2007), Fast Search & Transfer (2008), Navision (2002), Visio Corporation (2000), Yammer (2012), Nokia (2013) and Mojang (2014). Microsoft has also purchased several stakes valued at more than a billion dollars.