Dive summary:
- LinkedIn has confirmed its purchase of Flipboard rival Pulse for $90 million.
- The Pulse purchase, according to svp of products and user experience Deep Nishar, is part of LinkedIn's plan to become the "definitive professional publishing platform."
- Pulse will help to expand LinkedIn Today's exposure as 30 million people across more than 190 countries use Pulse's iOS and Android apps to find news stories.
$9.8mn raised, $90mn exit, $9mn in cash, $81mn in stock, for Pulse. Low cash, but LinkedIn's stock is as good as it gets
— Rafat Ali (@rafat) April 11, 2013
From the article:
"While Facebook's and Tumblr’s forays into publishing were a bit bizarre for platforms viewed primarily as outlets for users to create and distribute articles, LinkedIn has demonstrated a commitment to editorial content. Two years ago the company introduced LinkedIn Today as a pseudo-social front page for users to access news stories relevant to their careers and industries. Then last fall LinkedIn launched the Influencers blog platform for people on the level of Richard Branson and Arianna Huffington to pen posts published on LinkedIn."
