by Christopher Freeburn | March 12, 2013 11:27 am
[1]Social networking website LinkedIn (NYSE:LNKD[2]) is reportedly negotiating the purchase of Pulse[3], a newreading app maker.
Unnamed insider sources tell AllThingsD that the deal will be priced between $50 million and $100 million. But LinkedIn could have competition. Other reports say that Yahoo (NASDAQ:YHOO[4]) and Microsoft (NASDAQ:MSFT[5]) are also in talks[6] to buy the app.
More than 10 million news articles are read on the Pulse app every day. Alphonso Labs, the app’s developer has received $10 million in financing from a variety of private equity and investment firms.
The Pulse app has about 20 million users.
Shares of LinkedIn sank almost 2% in Tuesday trading.
Source URL: https://investorplace.com/2013/03/linkedin-to-buy-popular-news-reading-app/
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