LinkedIn Acquires Pulse for $90 Million
Content curation platform pushes social site deeper into publishing sector.
Spread across 190 countries, Pulse has more than 30 million users who have activated its iOS and Android-based news reader apps. More than 750 of the worldâ€™s publishers distribute their content through Pulse, and the app spans nine languages, with 40 percent of its users coming from outside the United States.
â€śWe are thrilled to be able to add Pulseâ€™s considerable talent, technology, and products to our growing ecosystem of content offerings, and we believe that they will help us accelerate our ability to deliver to our members the insights they need to be better at what they do, on any device,â€ť says Deep Nishar, LinkedInâ€™s SVP of products and user experience, according to a statement. â€śTo continue to deliver that value to our members, our vision for content is that LinkedIn will be the definitive professional publishing platform, and Pulse is a perfect complement to this vision.â€ť
Pulse, which launched in 2010, has given traditional magazine publishers big boosts: Between July 2011 and January 2012, Bonnierâ€™s Popular Science went from 60,000 subscribers to more than 3 million on the platform, as initially reported by FOLIO:.
â€śNewsâ€”the people, the places, the storiesâ€”is part of our daily conversation,â€ť says Pulse co-founder Akshay Kothari. â€śOver the past three years, Pulse has established itself as a key part of that conversation; it has grown from a small project, to a platform for millions of readers to access their favorite content.â€ť Co-founder Ankit Gupta added, â€śNow that our team is part of LinkedIn, weâ€™ll work together to expand the possibilities for content discovery, helping readers engage in conversations with colleagues, mentors, industry leaders, and beyond.â€ť
The Pulse team will join LinkedIn at the companyâ€™s Mountain View, Calif., headquarters, and existing Pulse apps will continue to be supported as integration between the companies rolls out.
The $90 million deal is made up of approximately 90 percent stock and approximately 10 percent cash, and the stock being issued in the transaction will be done so in a private placement, according to a LinkedIn release. Subject to the completion of customary conditions, the acquisition is expected to close during the second quarter of 2013.