LinkedIn, the world's largest professional networking site, continues to beef up its content publishing platform with its agreement to acquire Pulse, which makes a mobile news aggregation, reader, and content distribution application.
LinkedIn has been broadening its site's scope in recent years beyond its core feature of individual professional profiles, where people post career-related information and network with other members.
The Pulse acquisition, announced on Thursday, fits into LinkedIn's recent push around becoming a repository of news articles and columns published by media outlets and professional authors, as well as of member-generated posts that are primarily about career advancement and business.
"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," wrote Deep Nishar, LinkedIn's senior vice president of products and user experience, in a blog post. "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."
"Pulse is a perfect complement to this vision," he said.
The deal, expected to close this quarter, is worth about $90 million, approximately 90 percent stock and 10 percent cash.
Ankit Gupta and Akshay Kothari started Pulse in 2010 as a class project at Stanford that grew out of their dissatisfaction with mobile news reading. With Pulse, they aimed for "an effortless experience, with clean design and easy access to all of our favorite sources," they wrote in a separate blog post on Thursday.
Pulse, available for iOS and Android devices, will remain available in its current form for now, and the two teams will work to extend it and create "new offerings," they said, without going into details. It has more than 30 million users in 190 countries and is growing its user base by about 1 million people per month. It's used by more than 750 publishers.
Meanwhile, as of the end of 2012, LinkedIn had topped 200 million registered members located in more than 200 countries.
Last month, LinkedIn announced a revamping of its search engine, a move intended to make it easier for its members to find information on the site as the volume of content increases and becomes more varied.
LinkedIn has confirmed that some of the more than six million password hashes which were stolen and published online correspond to accounts belonging to its members. The professional social networking web site has now disabled the passwords for affected accounts.
Affected users should receive an email from LinkedIn with instructions explaining how to reset their passwords. LinkedIn Director Vicente Silveira says that these initial password reset emails will not contain any links. This is most likely being done to protect users against possible phishing attacks in which attackers could, for example, send emails with instructions to reset passwords and links to web sites constructed to impersonate LinkedIn, in order to trick people into providing private information. Read more...
After Curt Schilling's game company, 38 Studios, failed to make a payment on its business loan to Rhode Island on May 1, today's announcement that the entire 350+ person staff had been let go didn't come as much of a surprise. What has the industry talking today is how Twitter is being used to quickly snap up the suddenly available talent from the studio. Read more...
According to a LinkedIn update by Rahul Sood, who was up until now a partner at Microsoft’s Xbox team, a new program is being designed for entrepreneurs and startups by Bing.
The exact details of the initiative are not yet confirmed at the moment and it is unclear how and what Bing will do to support the startup community, but it’s noteworthy that Microsoft is no stranger to partnering with small businesses (aka BizSpark). Also, the Bing team has previously gotten involved in the Boston startup scene over the past year with its ”Findable and Fundable” event. Read more...
LinkedIn has bought browser plugin outfit Rapportive for an undisclosed sum.
"During our partnership with LinkedIn, we got to know them very well. We found a great overlap between our visions. We found a high-calibre and extremely driven team. We found, crucially, a 'members-first' company: everything that LinkedIn does is about making its members more successful," the company's CEO Rahul Vohra gushed. Read more...
Joining its fellow social-networking companies in the public release of internal code, LinkedIn has opened sourced software obtained in October with its acquisition of the IndexTank search-engine software provider.
"We are looking forward to seeing IndexTank thrive as an open-source project," wrote LinkedIn director of engineering, and former CEO of IndexTank, Diego Basch, in a blog post announcing the release.
At the time of the acquisition, LinkedIn indicated that it was interested in using the IndexTank's software, a well as the company's engineers, to improve the search functions for its own website. IndexTank has implemented search systems at other Web companies such as Reddit, Automattic's WordPress site, BitTorrent and TaskRabbit. Read more...
LinkedIn Corp. on Thursday launched its online professional networking service in Japanese, the first Asian language platform for the rapidly growing company as it pushes to expand in the region.
Mountain View, California-based LinkedIn also established a small Tokyo office, following the opening of its Asia-Pacific headquarters in Singapore in May.
Arvind Rajan, head of LinkedIn's Asia operations, described Japan as a key market for the company because of its technologically sophisticated work force. LinkedIn hopes that the lessons learned in Japan will ultimately translate into new offerings for the rest of the world.
LinkedIn has about 120 million members worldwide, with 20 million in Asia and the South Pacific. It began moving into Asia in late 2009, concentrating first on English-dominant markets like India and Australia. Read more...