What you need to know
- LinkedIn announced an agreement to acquire marketing analytics company Oribi.
- Oribi's technology allows companies to analyze behavior on websites without requiring knowledge of coding.
- LinkedIn will open an office in Tel Aviv, Israel as part of its agreement to purchase Oribi.
Microsoft's LinkedIn just announced an agreement to purchase marketing analytics company Oribi. The move will result in more features for marketers and recruiters using LinkedIn to see insights from web activity. LinkedIn did not disclose how much it agreed to purchase Oribi for. TechCrunch cites sources claiming that the deal is worth between $80 million and $90 million.
Oribi specializes in making analytics more accessible and easier to use. Using Oribi to receive insights does not require any knowledge of coding, which lowers barriers for smaller companies. LinkedIn will integrate Oribi's technology into its own offering.
"Through the integration of Oribi's technology into our marketing solutions platform, our customers will benefit from enhanced campaign attribution to optimize the ROI of their advertising strategies," said Chief Product Officer at LinkedIn Tomer Cohen. "This means that our customers will be able to more easily measure website conversions with automated tags and code-free technology, as well as build more effective audiences, all in a way that is privacy-first by design."
Cohen notes that more than 57 million businesses around the world build their brands through LinkedIn. The acquisition of Oribi should help LinkedIn customers "achieve maximum value from their marketing strategies," according to Cohen.
Following the acquisition of Oribi, LinkedIn will open an office in Tel Aviv, Israel. Multiple members of the Oribi team are expected to join LinkedIn, including Iris Shoor, the founder of Oribi. Cohen did not mention any other specific members of the Oribi team that will join LinkedIn.
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