Report: LinkedIn acquiring Pulse newsreader app

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LinkedIn will purchase Alphonso Labs, the startup behind newsreader application Pulse, AllThingsD reports.

Citing sources familiar with the negotiations, the report states LinkedIn will pay between $50 million and $100 million, beating out rival suitors including Microsoft (NASDAQ:MSFT) and Yahoo. LinkedIn declined a request for comment.

Pulse brings together content from users' favorite newspapers, magazines, social networks and blogs, and is available across platforms including Apple's (NASDAQ:AAPL) iOS, Google's (NASDAQ:GOOG) Android and HTML5. Its 20 million users read more than 10 million stories each day. Alphonso Labs also has raised close to $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.

For more:
- read this AllThingsD article
- read this Mashable article

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