LinkedIn acquires Pulse for $90M
LinkedIn announced it acquired mobile news app Pulse, from Alphonso Labs, in a deal valued at $90 million. The news comes as little surprise; AllThingsD reported in March that LinkedIn would pay between $50 million and $100 million for Pulse, beating out rival suitors including Microsoft (NASDAQ:MSFT) and Yahoo.
LinkedIn said that Pulse, founded in 2010, now counts more than 30 million users across its iOS, Android and HTML5 apps in more than 190 countries.
LinkedIn said it would continue to operate the Pulse app and would work to integrate Pulse's team and technology into the LinkedIn service to create the "definitive professional publishing platform." However, LinkedIn provided little in the way of details on how it would use Pulse in the future.
"Now that our team is part of LinkedIn, we'll work together to expand the possibilities for content discovery, helping readers engage in conversations with colleagues, mentors, industry leaders and beyond," said Pulse co-founder Ankit Gupta.
The Pulse service brings together content from users' favorite newspapers, magazines, social networks and blogs. Alphonso Labs previously raised $10 million from investors including Redpoint Ventures, Greycroft Partners, Mayfield Fund, Lightspeed Investment Partners and New Enterprise Associates.
The Pulse deal continues LinkedIn's efforts to boost its content offerings. The professional social network rolled out a news hub in early 2011 and last year launched Influencers, enabling users to follow content from thought leaders across a series of verticals.
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