Business, Investments

LinkedIn Buys and Shuts Down

Image Source:

Image Source:

A professional networking website, LinkedIn has acquired and will be closing down, that surfaces insights about people in user networks right before they meet them. The deal value is still undisclosed, however, this appears to be an acqui-hire with 12 of Refresh’s current team of 15 expected to join LinkedIn in Mountain View.

The acquisition was confirmed in a blog post penned by Refresh’s cofounder Bhavin Shah, in which he mentions that the company has stopped accepting new users, and the Refresh app will be shut down on April 15.

Refresh app searches the web and social networks to find the information about the person whom the user is scheduled to meet. LinkedIn has already been working on incorporating more predictive computing elements in the products it offers, like the LinkedIn’s Connected app, to give some insights and flag when users are near to people who are in their network. So, it’ll be interesting to see how the company utilises what Refresh developed pre-acquisition.

Earlier this year, LinkedIn had launched a lead generation product, called Lead Accelerator for advertisers. The company had mentioned its acquisition of Bizo in August 2014.

The company had reported 347 million registered users at the end of December 2014. It had 93 million average unique monthly visiting members, of which 45 million or 48.3% were mobile unique visiting members.

Have ideas to share? Submit a post on iamwire

Leave a Reply

Your email address will not be published. Required fields are marked *

You may use these HTML tags and attributes: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <s> <strike> <strong>