LinkedIn to Buy Popular News Reading App

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

LinkedIn LNKD[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.

  1. [Image]:
  2. LNKD:
  3. negotiating the purchase of Pulse:
  4. YHOO:
  5. SFT:
  6. are also in talks:

Source URL:
Short URL: