Iris Shoor, centre, with the Oribi team. Image: LinkedIn
Iris Shoor, founder of Israeli start-up Oribi, will join LinkedIn at its new office in Tel Aviv.
LinkedIn has announced the acquisition of Oribi, a marketing analytics start-up based in Israel.
The acquisition will lead to the establishment of a new LinkedIn office in Tel Aviv.
The terms of the deal were not disclosed by LinkedIn but many sources told TechCrunch that the start-up sold for between $80m and $90m.
When the deal is closed, “several members” of the Oribi team are expected to join LinkedIn and work from the Tel Aviv office, including founder and CEO Iris Shoor.
Oribi is Shoor’s third start-up having previously co-founded OverOps, a tool to identify coding errors in production, and PlanPlatform (formerly Visual Tao), a software design start-up that was acquired by Autodesk in 2009.
Founded in 2016, Oribi has raised almost $28m in funding across four rounds. Its latest was a $15.5m Series B led by Ibex one year ago. Sequoia and TLV Partners have also backed the start-up.
Oribi specialises in no-code analytics and has been positioned as a Google Analytics competitor. A key selling point for its platform is its ability to integrate with other websites or marketing channels.
LinkedIn chief product officer Tomer Cohen said that integration of Oribi for marketers on the professional social network will help them to understand the channels and messages where they are having the greatest impact.
“Through the integration of Oribi’s technology into our marketing solutions platform, our customers will benefit from enhanced campaign attribution to optimize the ROI of their advertising strategies,” he wrote.
“This means that our customers will be able to more easily measure website conversions with automated tags and code-free technology, as well as build more effective audiences, all in a way that is privacy-first by design.”
LinkedIn has 810m members in more than 200 countries. It was itself acquired by Microsoft in 2016 for $26bn.
In its most recent financial results, Microsoft reported that LinkedIn’s revenue was rising, up 37pc amid a period of significant change in the labour market worldwide.
“In this new economy, LinkedIn has become mission critical to connect creators with their communities, job seekers with employers, learners with skills, and sellers with buyers,” said Microsoft CEO Satya Nadella at the time.
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