On Thursday, LinkedIn formally announced its acquisition of the online news aggregation startup “Pulse” for $90 million.
Pulse, founded by former Stanford University students Ankit Gupta and Akshay Kothari, hit the web in 2010 originally as a class project, but has since become a destination for thousands to receive daily news.
Gupta and Kothari were frustrated with other mobile news readers and wanted to design a simple interface that pooled all their favorite news sources into one easy to use application.
Pulse retrieves news articles from a wide range of topics chosen by its users and then presents them in a simple, sleek interface. The app quickly rose to the top of Apple’s App Store only a few years ago, beating out other newsreaders already on the market. As of writing this article, Pulse claims over 30 million users globally which read over 10 million articles on a daily basis.
LinkedIn’s acquisition clearly shows its move toward becoming more of a content provider, and for good reason. At the moment, LinkedIn isn’t really a primary stop for users during the average day. Most users find that stopping by once in a while to update their resume, add an achievement, or connect with industry professionals is enough. Enough for them anyway. LinkedIn, like other social media hubs, wants users to stay engaged. It wants users coming back multiple times a day to interact with the community.
Deep Nishar, LinkedIn SVP of product and user experience, said in a blog post, “We believe LinkedIn can be the definitive professional publishing platform — where all professionals come to consume content and where publishers come to share their content … Pulse is a perfect complement to this vision.”
Here’s a statement from the LinkedIn team on the acquisition.