New York - LinkedIn said it’s acquiring Newsle, a startup that highlights news about people in a user’s professional and social networks.
Terms of the deal weren’t disclosed.
Through Newsle’s software, people can follow contacts from online networks such as LinkedIn and Facebook Inc., and receive news about them seconds after publication.
Newsle will remain a stand-alone service and will combine its technology with LinkedIn’s product, the companies said today in separate blog posts.
LinkedIn has faced a slowdown in growth in recent quarters.
To boost sales, the biggest professional-networking website has been working to bolster job-related services and has invested to expand its user base in China.
The acquisition of Newsle will give Mountain View, California-based LinkedIn tools to provide its customers with better business knowledge, according to the company’s blog post.
“We both want to provide professional insights that make you better at what you do,” Ryan Roslansky, LinkedIn’s head of content products, said in the company’s post.
“Knowing more about the people in your network –- like when they’re mentioned in the news –- can surface relevant insights that help you hit your next meeting with them out of the park.”
Newsle, based in San Francisco, said its investors and advisers include Lerer Ventures, SV Angel and Bloomberg Beta, the fund backed by Bloomberg, the parent of Bloomberg News.
Joseph Roualdes, a spokesman for LinkedIn, declined to disclose further details of the integration or terms of the deal.
LinkedIn shares rose 2 percent to $159.70 at the close in New York.
The stock has declined 26 percent this year. - Bloomberg News