LinkedIn Corporation (NASDAQ:LNKD) recently bought Careeify, a Toronto based start-up, in a move to improve its data management system. This world’s biggest professional network intends to expand its reach with its latest acquisition of Careerify.
Careerify, founded in 2009 by Harpaul Sambhi, is working to improve traditional HR technology. The company developed its own Talent Acquisition Platform (TAP). The company has won several awards in past few years for its performance. In 2011, Microsoft awarded Blue Sky Award for Innovation to Careerify. This start-up was featured in top 100 start-ups by Microsoft Bizspark One 2012.
Careerify’s founder Harpaul Sambhi shared that he is happy about the recent acquisition by LinkedIn Corporation (NASDAQ:LNKD). He adds that LinkedIn provides a massive scale to their technology. LinkedIn boasts of a giant data, with more than 30,000 companies looking out for recruitment through its user base of more than 347 million users. Careerify possesses the technology to find employees through its referral system. Thus LinkedIn’s clients will now be able to find their candidates through their own employees’ social network.
How does this benefit LinkedIn Corporation (NASDAQ:LNKD)? Well, to put in simple terms, the company has just purchased a solution that will make it more efficient. The company helps employers to find their potential employees through its user database. With acquisition of the new technology, this process will become easier.
LinkedIn will be able to give a powerful tool to employers to find candidates through intelligent referral system. Thus job hiring will become easy. This will add another star in LinkedIn’s business. However, Jeff Weiner (CEO of LinkedIn Corporation) has not commented anything about company’s recent purchase.
Though the details of this acquisition are not disclosed, it is clear that this acquisition will significantly impact LinkedIn corporation (NASDAQ:LNKD). For its users, job hiring and job seeking will become more rewarding experience. The company will generate more revenue. With this acquisition, yet another name is added in the list of start-ups acquired by big companies.
