LinkedIn acquires mSpoke

LinkedIn, a professional social network, is making its first acquisition, of a company that specializes in managing large amounts of data to try to determine relevant information.

The acquisition of Pittsburgh-based mSpoke, will help LinkedIn improve its ability to filter messages and news articles that its users share on its network. MSpoke also will improve LinkedIn's recommendation engine, which flags people, jobs and other insights about LinkedIn's members.

Terms of the deal were not disclosed. LinkedIn has roughly $76 million that it raised in 2008 in the bank, and that it funded the deal through operating cash flow.

LinkedIn, a privately held company makes money from advertising and premium services, has seen acceleration in revenue growth and profit this year. LinkedIn that has added roughly 10 million new members since April, has gained from the economic downturn; as people started joining and spending more time on professional social networks. With roughly more than 75 million members worldwide, LinkedIn accounts for more than half (65 percent) of all professional social network membership. --------

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