The largest professional social network LinkedIn has already paid $32 million in cash and will pay the remaining amount of the settlement in stock options for buying data provider company Bright.
Bright uses data insights and matching technology to connect prospects and employers. It will help LinkedIn to improve online matches as well as increase its user base.
Senior vice-president of products and user experience Deep Nishar stated in a blogpost, “What LinkedIn does best is connect talent with opportunity at massive scale. By leveraging Bright’s data-driven matching technology, machine-learning algorithms and domain expertise, we can accelerate our efforts and build out the Economic Graph.”
Bright started its journey in 2011 by the founder Eduardo Vivas. He said the company is excited to join LinkedIn because both firms share a common vision.
Vivas wrote in a blog post, “We share LinkedIn’s passion for connecting talent with opportunity at massive scale. And we agree that the old models for online recruiting are hopelessly broken. Our focus in this endeavor was always the individual — the broken hiring process hurts our economy at a macroeconomic level, but the most acute pain is at the household level. Joining an organization with the talent and resources of LinkedIn will only serve to further ignite our passion for solving this problem. We may become less visible than we were before, but it’s now more likely than ever that you’ll feel the impact of our work.”