LinkedIn Buys Pulse For $90M To Boost Mobile Content Exposure
Professional social networking site LinkedIn is purchasing Pulse, a mobile news reader, for $90 million in an effort to assist the website to increase its mobile standing in content distribution for users. 10 percent of $90 million will come in the form of cash while the other 90 percent will be paid for in stock.
Pulse was founded in 2010 by two Stanford University students as a class project after serious aggravations with mobile news reading were noted. It is owned by Alphonso Labs, Inc., with currently over 30 million users in around 190 countries. There are over 750 publishers who distribute their content through the application.
LinkedIn, which was launched in 2003, is using new products to ensure the website is even more applicable to folks who use the website to look for jobs, bring professional networks together and lookout for talent.
According to Avondale Partners analyst Randle Reece, the content appears to effectively boost interaction on LinkedIn than the professional-users groups. Thus, getting an early spot on the mobile market is important as new devices help people access digital content.
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