LinkedIn, the hot business-to-business networking company popular among job seekers, has acquired SlideShare, a presentation-sharing site founded by India-born Rashmi Sinha, for $119 million (Rs 640 crore).
SlideShare is so India-centric in origins that its first four servers were named Ash, Dia, Celina and Bipasha after Bollywood stars.
The tight-knit company of 55 employees is headquartered in San Francisco with a key office in Delhi, from where engineers worked to create the platform that the Nasdaq-listed LinkedIn found attractive.
Both Sinha and Amit Ranjan, chief operating officer and co-founder of SlideShare, have roots in Delhi.
“We could not be happier about this. We think this is the right step for the SlideShare community, the site, and the team,” Sinha wrote on her blog, hours after the deal was announced by LinkedIn.
Rashmi has a PhD in Cognitive NeuroPsychology from Brown University while Ranjan holds a degree in management from Faculty of Management Studies at the University of Delhi.
SlideShare was found in 2006 and has close to 60 million monthly visitors. Its users include The White House, US Army and Navy and corporations such as Pfizer, IBM and Dell.
“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,” LinkedIn CEO Jeff Weiner said in a statement. He said SlideShare fits “perfectly” with LinkedIn’s mission and will help deliver more value to its members.