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LinkedIn buys ChoiceVendor

Professional networking destination LinkedIn has acquired ChoiceVendor, a small provider of online business ratings and reviews, the company said Thursday.

The purchase is the second in two months for the fast-growing networking site. Chief Executive Jeff Weiner remained mum on the amount, only calling it “the right figure.” LinkedIn purchased mSpoke in August.

Weiner also told Reuters that LinkedIn has had talks with bankers about other opportunities, but the talks were not specifically about an IPO.

“Given our growth this year, there’s a lot of opportunities for us and so there’s a number of companies and bankers and other folks interested in talking to us about where we’re going, where we’re heading strategically, whether or not they can help us in any respect,” Weiner told Reuters.

He added, “We’ve had discussions previously; we’ll continue to have those discussions.”

But a source said that LinkedIn has met with banks to discuss the possibility of an IPO.

LinkedIn’s membership passed 80 million users this year. It currently ranks up there with Facebook and Twitter in terms of membership growth.

LinkedIn is a privately-held company and does not disclose its financial figures. The company makes money through advertising and charging for premium services.

San-Fransisco-based ChoiceVendor has eight employees, two of which are former Google employees. ChoiceVendor provides ratings and reviews of business-to-business service providers. It was founded by CEO Yan-David Erlich and Rama Ranganath, the company’s vice president of engineering.

“Our acquisition of ChoiceVendor is right in line with our top priority to build a world-class team at LinkedIn,” Weiner said in a statement. “We’ve admired the work that Yan-David, Rama and the talented ChoiceVendor team have done for some time now and are excited to have them join us, especially given their highly relevant work experience.”

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