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LinkedIn Buys Job Matching Service ‘Bright’ for $120 Million

LinkedInLinkedIn has made its biggest acquisition deal to date on Thursday. The professional social network has purchased the job matching service Bright for $120 million, made up of 73 percent stock and 27 percent cash. After the deal closes in the first quarter of 2014, several members of Bright’s team will join LinkedIn, including its engineering and product divisions. Existing users will be able to access their data on Bright’s website through February 28. Bright founder Eduardo Vivas said in a statement that the deal took place because “[LinkedIn] shares a similar vision and is equally obsessed about using data and algorithms to connect prospects and employers.” The one problem that Bright apparently lacked was the ability to scale. Yes, Vivas’ team had the talent in-house to build out its product and has successfully calculated billions of scores, but it didn’t have the ability to bring its technology to a much larger marketplace.

Read the full story at The Next Web.

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More Stories By Shelly Palmer

Shelly Palmer is the host of NBC Universal’s Live Digital with Shelly Palmer, a weekly half-hour television show about living and working in a digital world. He is Fox 5′s (WNYW-TV New York) Tech Expert and the host of United Stations Radio Network’s, MediaBytes, a daily syndicated radio report that features insightful commentary and a unique insiders take on the biggest stories in technology, media, and entertainment.