by Christopher Freeburn | March 12, 2013 11:27 am
Social networking website LinkedIn (NYSE:LNKD) is reportedly negotiating the purchase of Pulse, 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) and Microsoft (NASDAQ:MSFT) are also in talks 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: http://investorplace.com/2013/03/linkedin-to-buy-popular-news-reading-app/
Short URL: http://invstplc.com/1nzB2mW
Copyright ©2015 InvestorPlace Media, LLC. All rights reserved. 700 Indian Springs Drive, Lancaster, PA 17601.