On Tuesday, Linkedin announced that it has acquired B2B narketing startup Bizo for an amount of USD 175 million in which it included 10% stock and 90% cash. The deal is expected to close in the third quarter.
Launched in 2008 by CEO Russell Glass and CTO Donnie Flood. San Francisco-Headquartered Bizo is a marketing platform enabling B2B marketers to identify, reach and engage their target audiences online. At present, it included more than 120 million professionals audience around the world.
It had secured total four round of investments and is having a total capital of USD 28.5 million to date. Bizo is backed by seven investors and has 150 employees in its current team.
“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, Bizo’s Co-Founder & CEO, in a statement.
Earlier, Linkedin had opened R&D centre in Kartnataka and new office in Banglore. Also, it launched feature for brands to create ‘Follow Company Botton’ and introduced checkIn under its talent solutions. The website had recently launched University Pages on the portal andopened its doors for high school students.
LinkedIn has raised seven rounds of investment and is having a total raised capital of USD 206.1 million. Recently, it acquired 10 companies including Bright.com, Pulse, SlideShare, Rapportive, TrustHop and others. The website is backed by 9 investors and having 22 competitors.
Ad Exchanger says: As Bizo pointed out at the time, “For B2B websites, 95% of their website traffic still remains anonymous… what if we can hook up display advertising to the marketing automation system and allow Eloqua users to track digital body language and [retarget] visitors who are looking at certain products?” Both the MAS system and targeting mechanism become synergistically strengthened.
LinkedIn and Bizo have a longstanding relationship, which has resulted in a LinkedIn Ads API partnership. LinkedIn also partners with Oracle-owned BlueKai for data management and to analyze first-party data sets through BlueKai while Bizo powers the Oracle Eloqua AdFocus application. It makes sense for the Oracle-BlueKai-LinkedIn equation to include Bizo.
LinkedIn recognizes its position and user saturation (300 million strong) in the B2B marketing space, but realizes the potential to scale its off-network capabilities and ultimately improve B2B addressability.
Biz Journal says: Bizo was ranked 35th on a 2013 list of the fastest growing companies in the San Francisco Business Times circulation area, growing its revenue between 2010 and 2012 by about 237 percent to $22.1 million.
Bizo said it is used by more than 750 large global brands and small business marketers for targeted display and retargeting, social advertising, multi-channel nurturing and data solutions.
David Thacker, LinkedIn’s vice president of product, said in a blog that Bizo’s “media solutions” and “multi-channel nurturing” products will be incorporated into the professional networking giant’s portfolio. But he said Bizo’s “data solutions” won’t be.
“Bizo will honor their existing contracts, but LinkedIn data won’t be made available to their grandfathered customers,” Thacker wrote.
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