THE NEWS WRAP: LinkedIn makes its largest acquisition yet, forking out $US1.5 billion for Lynda.com

Social networking giant LinkedIn has announced it will acquire subscription-based online learning portal Lynda.com for $US1.5 billion ($A1.94b).

 

It’s LinkedIn’s largest acquisition to date. In a statement announcing the move, LinkedIn’s Ryan Roslansky said it was a meaningful step towards building the “Economic Graph” – the startup’s plan to digitally map the global economy.

 

LinkedIn chief executive officer Jeff Weiner says it’s a fit that benefits everyone.

 

“LinkedIn has the members, the jobs, a unique understanding of the skills required to do those jobs, and a publishing platform that can be accessed by roughly 350 million people to share professionally relevant knowledge,” he says.

 

“Lynda.com’s service has the premium library of skills-based courses. Together we can bring opportunities and access to knowledge that everyone deserves. And together, we can more easily build the Economic Graph by mapping together the people, jobs, skills and knowledge that are core components of it.”

 

Android Wear coming to iPhone?

 

Google is working on getting its Android Wear smartwatch platform to work with the iPhone, The Verge reports.

 

In its current state of development Android Wear works alongside a companion app on the iPhone and supports basic functions and notifications. The big question is will Apple allow it to happen.

 

Prosper Marketplace raises $165 million


Online lending service Prosper Marketplace has raised $US165 million ($A214m) in a funding round that values the startup at $1.9 billion, The Wall Street Journal reports.

 

The round was led by Credit Suisse Group’s Next Investors and the funding will be used to drive the startups rapid growth and marketing, with a continued focus on consumer credit.

 

Overnight


The Dow Jones Industrial Average is up 56.22 to 17,958.73. The Australian Dollar is currently trading at US77 cents.


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