If you bought LinkedIn Stock this week you are probably running around your house naked right now. LinkedIn’s shares surged 47% – roughly $61 to $193 – based on the news that Microsoft will purchase the business social media network for a record $26.2 billion ($196 per share).
Jeff Weiner will stay on as CEO of LinkedIn and will report to Microsoft CEO Satya Nadella. In a statement to LinkedIn employees, Weiner said “little is expected to change” which translated means “things will certainly change but who cares, all of you are mad rich.”
While this move certainly makes sense for cash heavy Microsoft (rumored to also possibly purchase Salesforce) as LinkedIn fans it is a little disappointing. LinkedIn currently has around 433 million users and one could easily see them getting in the Facebook range of 1.6 billion users or reach their (LinkedIn) stated goal of 3 billion users. LinkedIn still has room to grow internationally (they aren’t blocked in China), attract more blue collar workers on their platform and they also have the entire growing high school and university market (lowered the age limit to 13). Will this acquisition be similar to Google and YouTube or more like Microsoft and Nokia. Either way, it’s sad to see one of the pillars of social media get gobbled up.
It’s the End of the App Store As We Know It
Today marks Apple’s annual Worldwide Developer Conference. This is where app makers gather to learn about all of Apple’s great new ideas. As we wait for all the new announcements this year, one thing we already know is the App Store is in for a change. Apple Head of Marketing, Phil Schiller, announced last week that apps will be able to charge subscriptions. This could mean your gaming apps could come with a regular price tag instead of the $5 for five more lives. The change comes from Apple seeing how subscriptions are working for companies like Adobe and Netflix and realizing the revenue could be wayyy better for them. (Source: The Washington Post)
First Facebook Safety Check Activated in United States
After the devastating events that took place in Orlando, FL over the weekend, Facebook activated its first Safety Check in the United States. Safety Check is a feature Facebook launched in October 2014 and has yet to be activated for any US events. On Sunday, a Facebook spokesperson said that Facebook hopes “the people in the area find the tool a helpful way to let their friends and family know they’re okay.” (Source: Mashable)
