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LinkedIn(s lnkd) confirmed Thursday that it has acquired the social news reader Pulse, explaining how the company wants to use Pulse’s tools to improve the content on LinkedIn’s site. AllThingsD had previously reported that the acquisition would take place, and LinkedIn put the price tag at $90 million, which fits with what Om’s sources told him last month.
LinkedIn explained the acquisition in a press release, noting that the demand for content on the site that relates to people’s professions is growing, and that the Pulse team can help LinkedIn improve the types of news people are seeing:
“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. Millions of professionals are already starting their day on LinkedIn to glean the professional insights and knowledge they need to make them great at their jobs. We believe we can help all professionals make smarter and more informed business decisions leveraging all the great business knowledge flowing through LinkedIn in the form of news, Influencer posts, industry updates, discussions, comments and more.”
Around the time of the acquisition reports back in March, my colleague Mathew Ingram wrote for paidContent why it would make perfect sense, as the company grows into more of a dual recruiting and media business, with users who are interested in business news. In fact, LinkedIn’s executive editor Daniel Roth will be speaking on our panel about the rise of new media entities next week at our PaidContent Live conference in New York.
Pulse wrote in a blog post why it’s joining the company, pointing again to LinkedIn’s demand for knowledge on its site:
“LinkedIn is the perfect partner as we continue our journey. The company shares our passions and values, our belief in the power of knowledge and elevated discussion, particularly for professionals looking for insights to help make them better at what they do. We believe this important step is the key to an even better experience for our community, and we’re excited for what’s to come.”