While the deal is pending, LinkedIn has announced that they’ve made a $175 million offer to acquire B2B advertising company Bizo.
The move comes in the midst of a banner year for the social media platform’s own advertising efforts, which reportedly brought in $101 million in ad revenue in Q1 of this year (a 36% increase year over year). Bizo’s data targeting and analytics solutions stand to deliver a boost to the LinkedIn advertising suite, both in technology and product availability.
Though LinkedIn is the undisputed king of social media in the professional realm, recent efforts by Facebook to integrate job-based targeting threaten to hamper the network’s B2B growth– especially with their current product offerings, Sponsored Updates and right-rail ads (which, are decent, but certainly not great).
The apparent downside (because there always is one) is that, according t0 LinkedIn’s David Thacker, the company does not plan on continuing Bizo’s Data Solutions business, which could eventually lead to those in the programmatic and display space no longer having access to the organization’s rich B2B database. Thacker did note, however, that the company does plan to “honor existing contracts”, so any fear over this data vanishing may be premature (and, possibly, completely unwarranted).
LinkedIn expects the acquisition of Bizo to close before Q3 wraps-up in September. While no immediate announcements have been made to just what the purchase will mean for B2B advertising both on LinkedIn and elsewhere, expect further developments in the coming months.