It's been nearly a year and a half since LinkedIn (NYSE: LNKD) announced its intention to acquire online education provider Lynda.com for $1.5 billion. Its training and education solutions have helped boost LinkedIn's learning and development-related sales to $62 million in the second quarter, barely a blip relative to its $933 million in total sales. Not to mention the Lynda.com price tag.
However, LinkedIn is taking steps to further its revenue diversification beyond the $535 million -- equal to 57% of its revenue -- its hiring solutions generated, with the introduction of a new learning platform. Given LinkedIn's more than 450 million member profiles and "billions of engagements," it is in the enviable position of possessing reams of data it can utilize to target specific e-learning opportunities based on individual needs.
LinkedIn Learning is comprised of three primary components. First, with the addition of Lynda.com, LinkedIn's new service boasts a digital library of over 9,000 industry-specific courses that cover soft skills, business, and technical topics, to name but a few. Second, based on user data analytics, not only will LinkedIn be able to "suggest" e-learning topics, its business customers are able to utilize all that information to target training topics based on employee needs.
Not surprisingly given LinkedIn's focus on enhancing its mobile capabilities, the new Learning feature offers anytime, anywhere access for users; including offline. LinkedIn Learning has been in beta test mode for a while, and it's now ready for the masses. It's a natural addition considering the company's user base, and it offers a legitimate opportunity to spread the revenue wealth.
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Tim Brugger has no position in any stocks mentioned.