Citing a source close to the matter, the Wall Street Journal has learned that Microsoft is working on a new revenue stream for corporate services.
The Journal reported on Tuesday that the company has acquired its largest competitor, LinkedIn, and will launch a new “digital business unit” to be led by Jeff Chester, who previously led LinkedIn’s sales and marketing team.
The news comes as Microsoft, along with many of its peers, has struggled to rein in its revenue as it tries to move beyond its Xbox Live subscription service and its Surface tablets and other devices.
Microsoft is also looking to grow its media business as it moves to its new Azure cloud services.
While it has yet to release a financial statement, the company recently said it expects to see a $2.5 billion boost in revenue from media services in 2021.