LinkedIn to aquire Slideshare for $118.8m following 'more than double' profits

Washington, May 4 (ANI): After announcing that its first quarter profits had more than doubled, LinkedIn Copr. (LKND), the business networking company, is set to buy the presentation sharing website SlideShare for 118.8 million dollars.

LinkedIn's revenue, which doubled to 188.5 million dollars from 93.9 million dollars, comes from the fees it charges companies, recruiting services and other people who want broader access to the profiles and other data on the company's website. The rest comes from advertising.

The Mountain View California-based company is buying San Francisco-based SlideShare with cash and stock, and expects the deal to close by June.

"Presentations are one of the main ways in which professionals capture and share their experiences and knowledge, which in turn helps shape their professional identity," CBS News quoted LinkedIn CEO Jeff Weiner, as saying.

Weiner said SlideShare fits "perfectly" with LinkedIn's mission and will help deliver more value to its members.eports say that LinkedIn is expecting a second-quarter revenue of 210 million dollars to 215 million dollars, above the 208 million dollars which analysts had forecasted initially. (ANI)