Business, News

Linkedin Acquires News Reader App Pulse for $90M

Linkedin, one of the leading professional social networks has announced on Thursday that it has acquired Pulse. The deal was finalized for approximate amount of $90 million which comprised of 90% stock and 10% cash.

The idea is to position itself as a business news source and make LinkedIn an everyday website for business people to visit.

“We believe Linkedin can be the definitive professional publishing platform – where all professionals come to consume content and where publishers come to share their content. We believe we can help all professionals make smarter and more informed business decisions leveraging all the great business knowledge flowing through Linkedin in the form of news, Influencer posts, industry updates, discussions, comments and more. Pulse is a perfect complement to this vision.” said Deep Nishar, SVP of products Linkedin, in a blog post.

With Google reader stopping its functions, pulse will be attracting more people to download its apps in near future. It also provides an importer to easily bring one’s Google Reader feeds over to Pulse.

Akshay Kohar, one of the founders of Pulse announced on Thursday- “With Linkedin by our side, our team will continue to make Pulse the best it can be. For now, the Pulse apps will remain the same, and our two teams are excited to work together to create cool and useful new offerings”.

Pulse was founded by Akshay Kothari and Ankit Gupta in 2010 as a University project. The app in just few years of its operations managed to acquire more than 30 million registered users in more than 190 countries. As reported by Techcrunch- In october 2010, Pulse raised a seed round of $800,000 from Redpoint Ventures, Greycroft Partners, Lightspeed Venture Partners and In June 2011, it raised $9 million Series A round from New Enterprise Association, Greycroft Partners and Laser Ventures.

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