LinkedIn to Buy Pulse Newsreader for More Than $50M
The price of the acquisition is in the tens of millions, they said — between $50 million and $100 million.
Kara Swisher reported earlier today that a deal was in the works, with Microsoft and Yahoo also engaged in talks.
San Francisco-based Alphonso Labs, which makes the Pulse app for various platforms, has raised about $10 million from Redpoint Ventures, Greycroft Partners, Mayfield Fund, Lightspeed Investment Partners, New Enterprise Associates and Lerer Ventures. It has 20 million users who read more than 10 million stories per day.
LinkedIn declined a request for comment.