NEW DELHI: Rashmi Sinha and her brother Amit Ranjan, who grew up in Allahabad, have sold the world's largest slide-sharing site SlideShare to professional networking site LinkedIn.com for about Rs 640 crore ($119 million).
The website, which was the brainchild of Sinha's husband and co-founder Jonathan Boutelle, is headquartered at San Francisco with an office in Delhi. Ranjan, an alumnus of Delhi's Faculty of Management Studies, runs the India office.
LinkedIn will pay 45% in cash and the rest in stock, the social networking firm said in a statement on its website on Friday.
SlideShare joins the league of other internet-based firms started by Indian entrepreneurs and sold to dotcom giants. Last month, Tagtile, started by two IITians, was sold to Facebook in a cash and stock deal. Last year, Walmart bought Kosmix, a data analytics firm started by two Indians Venky Harinarayan and Anand Rajaraman, reportedly for $300 million. More than a decade ago, in 1998, the two had sold comparison-shopping site Junglee to Amazon for $250 million.
Sinha, a graduate of the University of Allahabad, is SlideShare's CEO based in San Francisco. "We could not be happier about this," Sinha wrote in her blog, posted on SlideShare. The community, which was founded in 2006, has 16 million registered users and about 60 million monthly visitors.