LinkedIn Corp. is spending $175 million to buy Bizo, a provider of advertising technology and measurement services aimed at professionals.
LinkedIn said Tuesday that it is paying 90 percent in cash and the rest in stock for San Francisco-based Bizo. The deal is expected to close in the third quarter. Founded in 2008, Bizo lets marketers target professionals with ads they want them to see, and helps measure the effectiveness of the ad campaigns.
LinkedIn, a professional networking service based in Mountain View, California, has more than 300 million users. The deal comes a day after Yahoo Inc. announced that it is buying Flurry Inc., which helps companies make mobile apps and design mobile ad campaigns.
Meta CEO Mark Zuckerberg speaks during the tech giant's Connect developer conference in Menlo Park, Calif., Sept. 27, 2023. (AP Photo/Godofredo A. Vásquez, File)
Joining companies such as John Deere and Walmart, Facebook and Instagram's parent company Meta Platforms Inc. is getting rid of its diversity, equity and inclusion program that includes hiring, training and picking vendors, a company spokesperson confirmed on Friday.
The move, which was first reported by Axios, comes on the heels of the social media giant's decision to end its third-party fact-checking program and scale back policies on hate speech and abuse.
Citing an internal memo sent to employees, Axios said the Menlo Park, California-based tech giant said the U.S. Supreme Court "has recently made decisions signaling a shift in how courts will approach DEI. … The term 'DEI' has also become charged, in part because it is understood by some as a practice that suggests preferential treatment of some groups over others."
In practice, this means Meta will no longer have a team focused on diversity and inclusion and the company said it will instead "focus on how to apply fair and consistent practices that mitigate bias for all, no matter your background."
The company will also end its "diverse slate approach" to hiring, which meant that a diverse pool of candidates was considered for every open position.
Other companies that have ended DEI programs recently include McDonald's, automaker Ford, Walmart and farm equipment maker John Deere.
Amazon also said it is halting some of its DEI programs, although it did not specify which ones. In a Dec. 16 memo to employees that Amazon shared on Friday, Candi Castleberry, a senior human resources executive, said the company has been "winding down outdated programs and materials, and we're aiming to complete that by the end of 2024."
