Though the share of LinkedIn plunged 35% yesterday, the company’s revenue grew 34% year-over-year in the fourth quarter to $862 million and increased 35% in 2015 to $2,991 million.
In its Q4 2015 earning statement, the largest professional networking site in the world also announced that it had acquired Connectifier, a technology startup that helps the recruiter find talent.
California-based Connectifier provides recruitment solutions to discover and connect with candidates and is used by companies from social networks to spacecraft and financial companies to supply chains. Last year LinkedIn acquired Lynda.com at $1.5 billion, and this acquisition will help build LinkedIn to improve its core solutions – Talent Solutions for recruiters and job seekers.
Connectifier, founded by two ex-Googlers, John Jersin and Ben McCann, raised $6 million in funding last year. The startup, which primarily focuses on building AI solutions, listed 43 employees on its website and came from world-class institutions and companies, including Google, Stanford, Carnegie Mellon, Caltech, NASA, Amazon, and Berkeley National Lab.
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On joining the LinkedIn team, John Jersin, Co-Founder and CEO of the company, in a blog post writes,
“We believe that human capital is the world’s most important asset. We care about building deeply powerful technology to solve real problems. And we want the very best for our current and future customers. As we announce that we will be joining LinkedIn, these goals still drive us forward, and we believe that our most exciting product announcements lie in our future.”
Connectifier has around 400 million databases, and its clients include Facebook, eBay, Twitter, PayPal, and Salesforce, among others. Though the entire team will not join LinkedIn, Jersin said rather
“our R&D team will be relocating to the San Francisco Bay Area to play a large role in the future of the LinkedIn Talent Solutions product line.”
The employment platform has grown rapidly in the last couple of years, but the industry lacks innovation. Connectifier artificial intelligence will help give recruiters a complete view of prospective job candidates and a way to connect with those candidates.