The popular professional networking website LinkedIn has announced that it has acquired Pulse, the news reading app from India-born entrepreneurs Akshay Kothari and Ankit Gupta. The 90 per cent stock and 10 per cent cash deal worth approximately $90 million, is expected to close in the second quarter of 2013.
Following the completion of deal, Pulse team will join LinkedIn HQ at Mountain View, California. According to a press release issued by the company, the existing Pulse apps will continue to be supported, which is positive as not so often such deals are Acqui-hires and the existing products get dumped.
The Pulse and LinkedIn teams will work to build professional content consumption products – a direction in which we have seen LinkedIn moving in the recent times.
“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 of Products and User Experience.”
Founded in 2010, Pulse currently has more than 30 million users – either on iOS or Android.
Pulse team also announced earlier today they will be offering a brand new LinkedIn Influencer feed on the Pulse app, which will include posts by personalities like Richard Branson, Jack Welch, and more.