LinkedIn Confirms Pulse Purchase And 2 Other Buzzing Social Media Stocks
LinkedIn (NYSE:LNKD): LinkedIn has confirmed that it purchased Pulse, an iOS and Android-based news reader app. For $90 million, LinkedIn has obtained 30 million users in 190 countries, and a new channel from which it can further develop its mobile platform. The exchange was 90 percent stock and 10 percent cash, according to the company’s press release. Investment research firm Wunderlich believes that LinkedIn’s acquisition of Pulse makes complete strategic sense, and it will accelerate the company’s efforts to become a larger publishing platform.
Groupon (NASDAQ:GRPN): Piper Jaffray analyst Gene Munster stated that the daily deals giant could post a take rate of 33 percent in Q1, which would imply revenue of $607 million — above the consensus estimate of $590.2 million. Shares rallied in afternoon trading on Thursday as a result, and experienced a rather uneven Friday, fluctuating between $6.20 and $6.45 per share.
Pandora (NYSE:P): The most popular web-based music streaming service has had the gauntlet thrown before it by Apple (NASDAQ:AAPL), which is reportedly on the verge of inking contracts with both Universal Music and Warner Music. “iRadio” as it has been dubbed will likely come installed on iOS devices, and Pandora will need to find an alternate method of pushing its app to iPhone and iPad users.
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