LinkedIn to Buy Popular News Reading App

by Christopher Freeburn | March 12, 2013 11:27 am

LinkedIn sign 630 300x199 LinkedIn to Buy Popular News Reading App[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.

Endnotes:
  1. [Image]: http://investorplace.com/wp-content/uploads/2011/07/LinkedIn_sign_630.jpg
  2. LNKD: http://studio-5.financialcontent.com/investplace/quote?Symbol=LNKD
  3. negotiating the purchase of Pulse: http://allthingsd.com/20130311/linkedin-to-buy-pulse-newsreader-for-more-than-50m/
  4. YHOO: http://studio-5.financialcontent.com/investplace/quote?Symbol=YHOO
  5. SFT: http://studio-5.financialcontent.com/investplace/quote?Symbol=SFT
  6. are also in talks: http://allthingsd.com/20130311/whos-about-to-acquire-news-reading-app-pulse-because-someone-is/

Source URL: http://investorplace.com/2013/03/linkedin-to-buy-popular-news-reading-app/
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