LinkedIn to Buy Pulse NewsReader for Over $50 Million

According to sources, LinkedIn is looking to buy the maker of the newsreader app Pulse. The final price of the acquisition has not been confirmed yet but is speculated to be around $50 million to $100 million.

Kara Swisher of All Things D earlier reported that a deal was in the works, with Microsoft and Yahoo also engaged in talks.

In case you still don’t know about Pulse, then Pulse is actually a newsreader app for iOS, Android and HTML 5 browsers, originally released in 2010, that displays news from multiple RSS feeds in a single page using a tile based interface. Pulse has been praised by users for its sleek, easy to use design. The app has gone through three major updates since its original release the latest in November 2012.

The app is developed by San Francisco-based Alphonso Labs. It 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.

We’ll update more on this once we get a reply from folks at LinkedIn.