LinkedIn is all set to acquire Israel-based marketing analytics company Oribi, in a statement on February 28, 2022. The deal will hasten LinkedIn’s marketing attribution capabilities and expand its international footprint with a new office in Tel Aviv.
Several members of the Oribi team, including founder Iris Shoor, are expected to join LinkedIn when the deal closes. Financial terms were not disclosed, but sources privy to the matter have revealed that LinkedIn paid between $80 million and $90 million for the web analytics startup.
The acquisition will quip LinkedIn in new ways to help businesses capitalize on its ad and recruitment tools and maximize performance across its platform. Combining Oribi’s technology into its marketing solutions platform will optimize the return on investment of customers’ advertising strategies.
“Oribi’s team brings deep analytics expertise that will help us accelerate the capabilities of our attribution technology across our lines of business — from helping a marketer find better leads to a recruiter identifying the right candidates,” LinkedIn’s Chief Product Officer Tomer Cohen wrote in a blog post.
“The acquisition will expand our international presence so we can continue delivering products that meet the evolving needs of our global customers and members,” Cohen wrote in the blog.
Oribi brings deep analytics expertise to LinkedIn
Oribi’s analytics tools enable simplified event tracking and response by highlighting the key insights that one needs to take action on to capitalize on performance trends.
How exactly these tools will operate in a LinkedIn context isn’t entirely clear as yet, but the basic impetus will be to better connect website visitors’ activity to LinkedIn performance, which could provide a range of optimization benefits.
Interestingly, one of Oribi’s main selling points is its code-free ‘Magic Events technology,’ which tracks every action visitors take on a website to provide more specific insight into crucial behaviors that can be used to optimize performance.