Unlike Snapchat or Instagram, which could very likely turn into MySpace 2.0 or 3.0, Linkedin is actually very entrenched in its market.
Edit: Yes, keep downvoting me, asking questions about LinkedIn clearly doesn't add to the discussion. sigh
On demographics alone, though, the deal doesn't seem to make sense.
It has a news feed, friends, events etc. But also has a jobs section. Given how ubiquitous it is every recruiter and sales guy is on there trying to push stuff.
This is going to go down in history as one of the most overpriced, worst acquisitions of all time. LinkedIn has already become more associated with being spammy than with any positive connotations.
Plus Microsoft is quite likely to take care of both problems. At least on the security front, since 2005 or so, I haven't heard of any leaks on their part.
Given Microsoft is trying to double down on the corporate space it is a pretty smart buy. Being about to push Azure/Office 365 through it could be invaluable.
If Microsoft had paid a lot less I could maybe see this purchase being more logical, but at $26 billion I just cannot agree this is a smart buy on any level.
I'm not saying its the best, but when the alternative is nothing at all, I can't really fault it for doing what it needs to to make money.
Also of note, a 25% reduction in sales and marketing expense would have made it profitable this last quarter, so evidently there are plenty of ways it is adding value to others.