LinkedIn purchases presentation platform

Business networking site LinkedIn and professional content sharing site SlideShare have made their relationship official, with the former purchasing the latter for US$119 million in cash and stock.

SlideShare lets users upload and share PowerPoint presentations, and garnered nearly 29 million unique visitors in March.

Jeff Weiner, CEO of LinkedIn, says in a release that presentations are a key way for professionals to capture and share their experiences, and in turn 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,” Weiner says, "aligning perfectly with LinkedIn’s mission and helping us deliver even more value for our members.”

The purchase price will be paid in a combination of 45% cash and 55% stock.