The social network for people looking to connect with others in their professional fields and find work with upwards of 810 million users has a long-standing business in marketing and advertising on its own platform. Oribi is a Tel Aviv startup that specializes in marketing attribution technology. The first office for LinkedIn will be in Israel.
The acquisition was not disclosed in the post, but we will update this post when we learn more. According to data from PitchBook, Oribi had raised just under $28 million in funding, from investors that included Sequoia, TLV Parnters, Ibex and others.
There are two levels to the deal. It's a sign that the company continues to invest in its marketing and advertising services, an area that is growing at a fast clip. Tomer Cohen stated in the post that marketing services revenues have grown. There is a lot more growth that can be done if businesses are given more tools to realize that. This is only the second acquisition that LinkedIn has made in recent years to expand that part of the business, the other being acquiring Drawbridge in 2019.
The acquisition of Oribi points to a sea change in what LinkedIn is doing in marketing. The mission of Oribi has been to make it easier to use web analytics. It wants to make it easier for smaller companies to build and run their own analytic programs, something that larger companies might have teams to execute but smaller organizations don't have the resources to do.
A lot of companies are more focused on the high end.
Oribi competes with the likes of Google Analytics, which means that now LinkedIn is also squaring up against one aspect of the formidable Google digital advertising and marketing machine.
The integration of Oribi's technology into our marketing solutions platform will benefit our customers.
Several members of the Oribi team are expected to join the bigger company and work out of the new LinkedIn.