Career networking site LinkedIn plans to purchase the news reader app Pulse, sources familiar with the negotiations said on Tuesday according to AllThingsD. The acquisition will reportedly cost LinkedIn between $50 million and $100 million.
Yesterday it was reported that Pulse was in advanced talks to be acquired by a major “platform” company, with Microsoft and Yahoo also reportedly engaged in talks with the startup. AllThingsD didn’t name its sources, but mentioned that LinkedIn has refused to comment on the matter.
The acquisition makes sense for LinkedIn — in recent months the career-focused social network has placed an emphasis on content. In November, LinkedIn rolled out a new follow feature to make it easier to find celebrities and business leaders through its network.
As for Pulse, its parent company Alphonso Labs has raised about $10 million through investors such as Redpoint Ventures, Greycroft Partners, Mayfield Fund, Lightspeed Investment Partners, New Enterprise Associates and Lerer Ventures. It also boasts 20 million users to date across Android, BlackBerry 10, iOS and Windows Phone platforms.