The social network LinkedIn recently announced a strategic acquisition for the analytics startup Oribi. Based in Israel, Oribi provides marketing and attribution technology solutions, which LinkedIn is aiming to use to leverage its current marketing advertising services. Terms of the deal were not disclosed, but sources have confirmed that LinkedIn paid somewhere between $80M - $90M for the startup, which has received nearly $30M funding so far.
This deal is significant for LinkedIn for two main reasons. The first being that LinkedIn is providing more attention to its marketing and advertising services, with their marketing services revenues growing “over 43% year-over-year.” More and more businesses continue to grow their brands through LinkedIn’s platform, along with more virtual events being created for businesses and users to come together in engagement.
The second reason that this acquisition poses an opportunity for LinkedIn and its users is Oribi’s goal to help “democratize web analytics,” which allows for companies to have more insight and customizability into their marketing strategies on larger established platforms such as LinkedIn.
Quazar was not involved in this transaction.
Read more here: https://techcrunch.com/2022/02/28/linkedin-acquires-israeli-web-analytics-startup-oribi-to-expand-its-marketing-technology/
