LinkedIn, the world’s largest professional network, announced today that it has agreed to acquire Oribi, an Israel-based marketing analytics company for an estimated sum of $80 million.
Linkedin wishes to accelerate its innovation in marketing attribution technology and assist customers in reaching and converting their professional audiences at scale.
LinkedIn will also establish a new office in Israel as part of the transaction.
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Founded in 2016 by Iris Shoor, Oribi assists businesses in optimizing their marketing campaigns by providing enhanced insight into the channels and messaging that have the most impact on a prospect’s choice to request a product demo or apply for a job opening.
Customers will benefit from better campaign attribution as a result of the integration of Oribi’s technology into LinkedIn’s marketing solutions platform, all while maintaining a privacy-first architecture.
LinkedIn will also open a new office in Tel Aviv as part of the arrangement, boosting its international staff, enabling the company to further scale the value to members and clients worldwide.
LinkedIn has over 810 million members and operations in more than 100 countries. Over 57 million companies globally use LinkedIn to promote their brands. Over 24,000 virtual events are conducted each week.
Tomer Cohen, Chief Product Officer at LinkedIn, said: “Our customers and partners turn to us as the platform to build their brand, engage their professional audiences, and grow their business. We’re focused on helping our customers, from marketers to recruiters, gain actionable insights, make smarter decisions, and drive business results.
“Oribi’s team brings deep analytics expertise that will help us accelerate our attribution capabilities across our lines of business, and they will represent our first employees in Israel as we open a new office in the region.”
Iris Shoor, Founder & CEO, Oribi, said: “Our technology enables companies to achieve maximum value from their advertising strategies. Customers are able to easily measure website conversions through automated tags and code-free technology, as well as build more effective audiences. We look forward to scaling this technology to help even more customers reach and convert their professional audiences and optimize their ROI.”