Microsoft Takes Over LinkedIn At $26.2 Billion

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Microsoft to Acquire LinkedIn for $26.2 Billion

Microsoft on Monday announced it is acquiring LinkedIn, the social network for professionals, for a whopping sum of $26 billion — or $196 per share, in cash. The transactions, the companies say, has already been approved by both boards.

As part of the agreement, LinkedIn will get to keep its branding, and will become part of Microsoft’s productivity and business processes segment. Jeff Weiner will remain CEO of LinkedIn and now report to Microsoft CEO Satya Nadella. In a statement, Nadella said: The LinkedIn team has grown a fantastic business centered on connecting the world’s professionals.

Together we can accelerate the growth of LinkedIn, as well as Microsoft Office 365 and Dynamics as we seek to empower every person and organization on the planet. LinkedIn has over 430M members on its network. LinkedIn’s purchase marks Microsoft’s 196th acquisition of another company — it is incidentally also it’s most expensive purchase. Four years ago, Weiner laughed at the idea of a Microsoft buyout.

According to Bloomberg, LinkedIn shares surged 49 percent in premarket trading in New York to $194.63. Microsoft fell 3.7 percent to $49.60.

How Social Media Giants Agree To Remove Hate Speech Across The European Union

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The social media giants agree to remove hate speech from the European Union.

Tech giants Microsoft,  Youtube, Facebook and others in conjunction with the European Union are taking a stand to fight hate speech. Microsoft, Twitter, YouTube, Google, and Facebook have launched “code of conduct” aimed at fighting racism and xenophobia across Europe.

The companies aren’t legally obligated but have agreed to “public commitments” to review the “majority of valid notifications for removal of illegal hate speech” in less than 24 hours, and make it easier for law enforcement in Europe to notify the firms directly.

From a TechCrunch report:Tech companies will have to find the right balance between freedom of expression and hateful content. Based on the code of conduct, they’ll have dedicated teams reviewing flagged items (poor employees who will have to review awful things every day).

Tech companies will also educate their users and tell them that it’s forbidden to post hateful content. They’ll cooperate with each other to share best practice. They’ll encourage flagging of hateful content and they’ll promote counter speech against hateful rhetoric.

It’s good to see that this issue got escalated and the European Commission was able to come up with a code of conduct quite quickly. Instead of making tech companies deal with every single European country, they can agree on rules for the EU as a whole.

“The recent terror attacks have reminded us of the urgent need to address illegal online hate speech,” Vera Jourova, EU Commissioner for Justice, Consumers and Gender Equality, wrote in the European Commission press release.

” The social media, unfortunately, is one of the tools that terrorist groups use to radicalise young people and racist use to spread violence and hatred. This agreement is an important step forward to ensure that the internet remains a place of free and democratic expression, where European values and laws are respected.”