LinkedIn buys and shuts down Refresh.io

Washington: Business-oriented social networking service LinkedIn bought and will be shutting down Refresh.io, a startup and iOS app of the same name that provides insights about people in your networks right before you meet them.

The terms of the deal have not been revealed but the main app will be shutting down on April 15 after which the company will not accept any new sign-ups. Twelve of the current team of 15 employees will join LinkedIn in Mountain View to work on incorporating the technology they have developed into various LinkedIn products.

A LinkedIn spokesperson said the company will be looking to take their smarts and add them to a number of products in order to come up with a number of insights to make LinkedIn even more valuable.

Refresh.io had raised about $10 million from CRV, Redpoint, Foundation Capital and Haystack

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