LinkedIn has acquired the social reading company Pulse, making a move to become a “professional publishing platform.”
According to the release, they purchased the company for “approximately $90 million, subject to adjustment, in a combination of approximately 90 percent stock and approximately 10 percent cash.” Stanford graduate students Akshay Kothari and Ankit Gupta founded Pulse in 2010. Here’s more about Pulse from the release:
Pulse currently has more than 30 million users who have activated its iOS and Android-based news reader apps in more than 190 countries. Pulse is available in nine languages, and approximately 40% of users are outside the United States. More than 750 of the world’s leading publishers distribute their content through Pulse.