LinkedIn acquires Pulse news reader app for around $90 million

The rumours were true! LinkedIn has gone ahead and finalised the purchase of mobile news reader app Pulse. The company made the acquisition public today. In a blog post titled “Welcome Pulse to the LinkedIn Family", Deep Nishar of LinkedIn lauded Ankit Gupta and Akshay Kothari of Pulse with praises as he announced the acquisition of the app. The deal was reportedly valued at a figure somewhere close to $90 million, which consists of 90 percent stock and 10 percent cash, according to the official release.It was earlier speculated that the deal would go through for anywhere between $50 million to $100 million. Reports had revealed that heavyweights like Yahoo! and Microsoft were vying to purchase the app, the latter having worked with Pulse on a mobile web app, but LinkedIn turned out to be the winner here.Click here for full story