The world’s largest professional network, LinkedIn has recently announced its acquisition of news reader and mobile content distribution platform, Pulse. The company was founded in 2010 by Akshay Kothari and Ankit Gupta while they were students at Stanfor
The world’s largest professional network, LinkedIn has recently announced its acquisition of news reader and mobile content distribution platform, Pulse. The company was founded in 2010 by Akshay Kothari and Ankit Gupta while they were students at Stanford University in the US.
In a release issued by LinkedIn, the transaction is valued at approximately $90 million, subject to adjustment, in a combination of approximately 90 percent stock and approximately 10 percent cash. The stock being issued in the transaction will be done so in a private placement. Subject to the completion of customary conditions, the acquisition is expected to close during the second quarter of 2013, the release added.
“We are thrilled to be able to add Pulse’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,” said Deep Nishar, SVP, Products and User Experience, LinkedIn in the release.
“To 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,” Nishar added.
Ankit Gupta, Co Founder, Pulse, said “Now that our team is part of LinkedIn, we’ll work together to expand the possibilities for content discovery, helping readers engage in conversations with colleagues, mentors, industry leaders, and beyond.”
Members of the Pulse team, including those from Engineering, Product and Design, will join LinkedIn at the company’s Mountain View, California headquarters.
Pulse currently has more than 30 million users in more than 190 countries. It is available in nine languages, and approximately 40% of users are outside the United States.