LinkedIn buys SlideShare App for $119m

It looks like Facebook isn’t the only social networking website making big investments in popular web applications. SlideShare is an application which lets users create and upload slideshow presentations, videos, and PDFs online. It is a popular medium for account owners on LinkedIn to show tutorials and ebooks on their user profiles.

The SlideShare application has built over 29millions unique users since it’s launch in 2006, proving to be very popular with business professionals such as social media experts, website designers. LinkedIn has acquired the application for $119 million, from co-founder Rashmi Sinha.

“We could not be happier about this. We think this is the right step for the SlideShare community, the site, and the team”, said Sinha on her blog after the announcement of the deal from LinkedIn.

“Presentations are one of the main ways in which professionals capture and share their experiences and knowledge, which in turn helps shape their professional identity, these presentations also enable professionals to discover new connections and gain the insights they need to become more productive and successful in their careers, aligning perfectly with LinkedIn’s mission.” said LinkedIn chief executive, Jeff Weiner.