LinkedIn Corp Acquires Notification Service Newsle

 LinkedIn headquarters Mountain View , Calif.

(LinkedIn Headquarters. Mountain View , Calif.)

World’s largest professional network LinkedIn has acquired California-based startup Newsle Inc, an alerts service that will help the business-oriented LinkedIn to track users outside its website.

While the transaction details were not disclosed, a joint statement was issued by the two companies stating that the new technology would enhance Linkedin’s current feature that notifies a user’s connections when they’re referred to in news articles which in turn will better the connectivity between professionals.

(Newsle announcement screengrab)

(Newsle website screengrab)

Post acquisition, Newsle founders Axel Hansen and Jonah Varon will join the LinkedIn team along with their team of engineers. The startup will continue to operate as a standalone service and it will be integrated within LinkedIn’s core products.

“Over the past year or so, we have introduced several new ways for you to further access this exchange of information to be better informed, educated and inspired by the business knowledge that exists on LinkedIn. But there’s more work to be done. That’s why I’m so excited to welcome Jonah Varon, Axel Hansen and the rest of Newsle to the LinkedIn family,” reads the LinkedIn blog post.

Established in January of 2011, Newsle has over 2 million users. It raised a total of $2.6 million from several investors including Transmedia Capital, Lerer Ventures and Draper Fisher Jurveston.

Since both LinkedIn and Newsle share a common goal both want to provide professional insights to help LinkedIn professionals better do their jobs, LinkedIn said in a statement.

LinkedIn, founded in 2003 is a professional network with over 300 million members, with more than half the total outside the United States. Headquartered in Silicon Valley, LinkedIn has offices across the globe. In the first quarter that ended March 31, 2014, the company reported a 46 per cent increase in its revenue to $473.2 million. The company reported net loss of $13.4 million in comparison with net income of $22.6 million in the same quarter last year.

LinkedIn has been experiencing a slowdown in user growth and engagement recently. The company has made several acquisitions in the past few years to bolster its services and provide a better user-experience on the website. LinkedIn has acquired a few companies like Bright.com, a data-driven job search startup in February 2014 ($120 million), Pulse in April 2013 ($90 million) news reading application to help users discover meaningful content, Rapportive in February 2012 ($15 million) and CardMunch in January 2011.

Carrie Ann
Carrie Ann is Editor-in-Chief at Industry Leaders Magazine, based in Las Vegas. Carrie covers technology, trends, marketing, brands, productivity, and leadership. When she isn’t writing she prefers reading. She loves reading books and articles on business, economics, corporate law, luxury products, artificial intelligence, and latest technology. She’s keen on political discussions and shares an undying passion for gadgets. Follow Carrie Ann on Twitter, Facebook

Recent Posts

Visa takes over Swedish fintech Tink in €1.8bn deal

Visa takes over Swedish fintech Tink in €1.8bn deal

: Visa is committed to perform better in the field of open banking sector by combining its networks and Tink’s modern technologies.
3 hours ago
BP Invests $7 million in Electric Vehicle Charging Technologies

BP Invests $7 million in Electric Vehicle Charging Technologies

Investment in IoTecha is linked with BP’s intention to produce over 70,000 public EV charging points globally by 2030
4 hours ago
Elon Musk’s Starlink satellite internet set to cover the globe soon

Elon Musk’s Starlink satellite internet set to cover the globe soon

Starlink, the satellite internet unit of Elon Musk’s SpaceX, will most likely be able to provide global coverage by September, according to the company’s president Gwynne S
1 day ago
At the next Krispy Kreme IPO, the donut maker aims to raise nearly $4 billion

At the next Krispy Kreme IPO, the donut maker aims to raise nearly $4 billion

Krispy Kreme, the popular donut chain, aims raise roughly $4 billion as it makes one of the biggest IPO debuts at the NYSE.
1 day ago
Panasonic hopes Blue Yonder acquisition will improve its software woes

Panasonic hopes Blue Yonder acquisition will improve its software woes

Most Japanese major companies, which at one time were leaders in consumer electronics, are struggling to find their feet in a world that has moved to digital software. Electronics
2 days ago
Ikea and Rockefeller Foundations to raise $10 billion for renewable energy projects in poor countries

Ikea and Rockefeller Foundations to raise $10 billion for renewable energy projects in poor countries

The Ikea and Rockefeller foundations are jointly launching a $10 billion fund to promote small-scale renewable power projects in developing nations. Both
3 days ago