LinkedIn to acquire Pulse

Pulse app icon

Pulse app iconLinkedIn, the social network for professionals, will be acquiring news aggregation app Pulse, according to a report from AllThingsD.

Sources familiar with the negotiations say that the price of the acquisition is between $50 million to $100 million. AllThingsD had already reported earlier today that Pulse was in talks to be acquired by a “major platform company.” Pulse is one of many news aggregator apps on mobile, with competing apps in the space like Flipboard, Zite, Feedly and more.

According to traffic tacking service AppData, Pulse is ranked No. 19 on the top free iPhone apps chart for the news category.

Pulse is developed by San-Francisco-based developer Alphonso Labs, which raised about $10 million in funding to date from Redpoint Ventures, Mayfield Fund, Lightspeed Investment Partners, New Enterprise Associates, Greycroft Partners and Lerer Ventures.