Growing marketing tool and professional networking site LinkedIn, has reinforced its online presence by acquiring leading news reader and mobile content distribution platform Pulse - for $90 million.
The US-founded business network, famed for connecting a sea of career-minded professionals, only recently revealed its quarter-four 2012 rocketing revenue figures from its Marketing Solutions segment; which totalled a cool $83.2 million - an increase of 68% compared to the fourth quarter of 2011.
So with revenue riding high and the increasing popularity of its marketing platform; selling premium subscription accounts, adverts and recruitment services to businesses, it is no surprise the networking giant has sought to accelerate its content and mobile initiatives.
More than 750 of the world’s leading publishers distribute their content through Pulse. It currently has more than 30 million users who have activated its iOS and Android-based news reader apps, in more than 190 countries, and its offering is available in nine languages.
LinkedIn’s senior vice president of products and user experience, Deep Nishar, said: “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.
“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.”
Subject to the completion of customary conditions, the acquisition, valued at approximately $90 million, is expected to close during the second quarter of 2013.
Members of the Pulse team will join LinkedIn at the company’s California headquarters. The current Pulse apps will continue to be supported as the integrated Pulse and LinkedIn teams work to build future generations of professional content consumption products.