LinkedIn has been successfully fulfilling it's promise to connect the world's professionals
in order to make them more productive and successful. Now, as part of the continued efforts of LinkedIn to continually improve it's services, the firm is buying the maker of the newsreader app Pulse. On March 11, 2013, Eric Linton has reported for International Business News, LinkedIn Reported Buying Pulse Newsreader App.
The acquisition is reported to be priced somewhere between $50 million and $100 million. Other firms have also showed an interest in Pulse, including Microsoft, Yahoo, Facebook, Gannett and Amazon. Pulse takes news stories shared on social networks or selected by editors and reformats them for smartphones and tablets. CNN purchased Zite, one of Pulse's competitors, for a reported $20 million in 2011. A selection of news articles from a variety of sources is already offered by LinkedIn in its LinkedIn Today section, which appears on both its website and mobile apps.
AllThingsD has also covered this story, LinkedIn to Buy Pulse Newsreader for More Than $50M. AllThingsD has confirmed that LinkedIn will buy the maker of the newsreader app Pulse. Alphonso Labs, which makes the Pulse app for various platforms, has already raised about $10 million from Redpoint Ventures, Greycroft Partners, Mayfield Fund, Lightspeed Investment Partners, New Enterprise Associates and Lerer Ventures. The firm, which is based in San Francisco, has 20 million users who read more than 10 million stories per day.