LinkedIn, the popular social networking platform to help professionals connect
worldwide, has found work with upwards of 810 million users. It has a long-standing
business in marketing and advertising on its own platform. Linkedin announced an
acquisition that could point to its ambitions to provide more analytics and insights across the
wider internet. The Microsoft-owned networking platform has taken over Oribi, a Tel Aviv
startup specializing in marketing attribution technology. With this deal, LinkedIn will
establish its first office in Israel.
As per the sources, LinkedIn paid between $80 million and $90 million for Oribi, a figure it
seems other outlets are also reporting.
As per PitchBook Data, Oribi, as a startup, had raised just under $28 million in funding from
investors, including Sequoia, TLV Partners, Ibex, and others.
The deal is interesting on two levels. First, LinkedIn plans to continue investing in its
marketing and advertising services, an area growing at a fast clip for the company. Tomer
Cohen, the Chief product officer, says that marketing services revenues have grown 43%
year-over-year. But with some 57 million businesses “building their brands on Pages” and
over 24,000 virtual events being created weekly on LinkedIn, there is clearly lot more growth
that can be tapped here if those businesses are given more functionality and tools to realize
Second, the acquisition of Oribi specifically points to a sea change in what LinkedIn is setting
out to do in marketing. Oribi’s mission is to democratize web analytics, i.e., it aims to make it
easier for smaller companies to build and run customized analytics to measure the impact of
their marketing strategies.
As per Iris Shoor, “A lot of companies are more focused on the high end….Usually, these
solutions are very much based on a lot of technical resources and integrations — these are
the Mixpanels and Heap Analytics and Adobe Marketing Clouds.”
Notably, Oribi competes with the likes of Google Analytics. LinkedIn in an association with
Microsoft is also squaring up against one aspect of the formidable Google digital advertising
and marketing machine.
Cohen wrote, “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”. “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.”