Getty / Scott Olson
LinkedIn CEO Jeff Weiner
LinkedIn plans to break into the $50 billion business-to-business marketing space and turn its products into a $1 billion business by 2017, according to internal documents sent to Business Insider.In July, LinkedIn revealed plans to acquire a business marketing company called Bizo for about $175 million, moving it a step closer towards its goal of becoming "the most effective online platform for marketers to engage with professionals."
Last quarter, LinkedIn reeled in $106 million in revenue from its marketing products, which was up 44% year-over-year. Now, though, the company wants to expand beyond its current media and content marketing products to build a B2B marketing platform using its own, and Bizo's, tools.
"Our long-term ambition is to build an integrated marketing and sales platform that provides a simple and effective way to reach audiences, nurture prospects, and acquire customers," the document says.
Shannon Stubo Brayton, LinkedIn's VP of corporate communications, declined to comment on the document.
Here's how LinkedIn plans to build a $1 billion B2B marketing business by 2017:
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