LinkedIn, the social network for professionals with more than 300 million users, has been constantly working to widen its serviced into an all-out recruiting platform. Now this plan has reached a significant level with the acquisition of a start-up Refresh.
Refresh is a California-based start-up that offer free iOS app to search the web and supply information about the person you are about to meet. This would help the user brush up on the key details about people they may not follow regularly. The app, founded in 2011, also lets you keep notes about those meetings.
To be more precise, the app synchronizes with a user’s LinkedIn or Facebook accounts and goes through profiles, status and events across the networks and collects information on a person you are scheduled to meet to talk business or a job interview.
LinkedIn has a similar feature already called Connected that manages your existing LinkedIn relationship and requests you to follow-up the people after the meeting. With the new acquisition, LinkedIn plans to come up with new features using Refresh technology although its vague if the features would stand alone or would combine with the existing Connected which seems to be a natural fit . The app has stopped accepting new users from yesterday and has announced to shut down completely by April 15.
“Our joint passion for delivering insights that help professionals be more productive is what makes joining LinkedIn so exciting. Plus, LinkedIn gives us an opportunity to share insights with more than 347 million professionals across the globe,” said founder Bhavin Shah on the company’s blog.
The financial terms of the deal were not disclosed but the report says its talent and technology acquisition. 12 out of the 14 full-time employees are joining the LinkedIn team to work on the fitting the technology they have developed into various LinkedIn products.
Refresh has raised about $10 million from CRV, Redpoint, Foundation Capital and Haystack. This is LinkedIn’s second acquisition this month, following its purchase of the online recruiting and talent acquisition platform Careerify.
LinkedIn acquiring Refresh is a good progression from a previous acquisitions of Rapportive, that helps Gmail users surface other connection information about their email contacts. This acquisition further emphasizes LinkedIn’s ambitions to become a resource for professionals beyond the limited time period in which they are looking for a new job. The company expects to be a platform for creating, maintaining, reinforcing users’ professional identities at any point of their career.