Popular News reader app pulse was owned by LinkedIn for Stepping even further into the media fray. The Announcement was made by the company on Thrusday that it has bought Pulse App for 90 Million $. LinkedIn ended up paying $90 million for Pulse, 90 percent of which was stock and 10 percent cash.
As we all know Pulse applications for Apple and Android powered smartphones or tablets were designed as a "fast, fun and beautiful way to read your favorite blogs, magazines and newspapers." The
startup claims more than 20 million Pulse app users and said it is adding more than two million monthly.
The main reason behind deal.
The acquisition makes a lot of sense for LinkedIn, as it’s now focusing on becoming a major media destination, and not just a professional social network. We’ve noticed the power of LinkedIn’s news feed and LinkedIn Today, the company’s catered selection of interesting stories, in our own traffic records.
Pulse’s apps aggregate news updates from more than 750 publications, as well as social networks. So far the company has more than 30 million users. With the death of Google Reader (and seemingly, RSS in general), Pulse’s apps are now even more appealing to news hounds.
LinkedIn senior vice president Deep Nishar said in a blog post that the deal involves acquisition of a firm "shaking up the app world with a fresh, new way to consume news on mobile." He said this can help LinkedIn become a "definitive professional publishing platform."
"Millions of professionals are already starting their day on LinkedIn to glean the professional insights and knowledge they need to make them great at their jobs," Nishar said. Pulse was founded in early 2010 by then Stanford University graduate students Akshay Kothari and Ankit Gupta after a "to revolutionize the mobile news reading experience," according to a message at the startup's website.
LinkedIn has its headquarters in the Silicon Valley city of Mountain View, California, and is available in more than 200 countries and territories in a variety of languages.