Why is LinkedIn Courting This News App?

 
on March 12 2013 11:52 AM
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Maybe LinkedIn (LNKD) should change its name to "LeakedIn." On Wednesday, the business networking site said it is investigating a user's post from a Russian forum that claims he hacked LinkedIn, uploading 6,458,020 encrypted passwords to the site as proof. Flickr

According to sources, LinkedIn (NYSE:LNKD), the social media site geared for professionals, has been in talks to arrange the acquisition of Pulse, a mobile-based news reader app.

LinkedIn is reportedly ready to offer $50 to $100 million for the product from Alphonso Labs, indicating that LinkedIn sees a great deal of value in the app. Pulse is available for various platforms, and has 20 million users worldwide who read about 10 million articles per day, AllthingsD said.

Microsoft (NASDAQ:MSFT) and Yahoo (NASDAQ:YHOO) are also allegedly trying to court Pulse, and other rumors have named organizations including Facebook (NASDAQ:FB), Amazon (NASDAQ:AMZN), and Gannett (NYSE:GCI) as possible suitors.

LinkedIn has been adding to its content repertoire recently, thanks to its stock performing well. The site has been growing substantially as it diversifies its offerings, and moves beyond its original intentions as a posting board for resumes and a networking tool for professionals.

LinkedIn has also acquired CardMunchSlideShare and Rapportive, among others.

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