US-based social news application Newsle has been acquired by social recruitment and networking website LinkedIn for an undisclosed amount, providing an exit for media companies Bloomberg and Advanced Media.
Newsle, which claims to have over 2 million users, alerts users to news and updates about people in their social networks.
The acquisition will allow LinkedIn to incorporate Newsle into its existing platform, alerting LinkedIn members to news about those in their professional network. Newsle will also continue as a standalone service.
Bloomberg Beta, Bloomberg’s venture fund, supplied an undisclosed amount of seed funding for Newsle in 2013. Newsle subsequently raised $1.8m in a series A round in 2013 led by Advance subsidiary American City Business Journals that also included Maveron, Draper Fisher Jurvetson, Transmedia Capital and angel investors.
The company previously raised $650,000 in seed funding in 2012 from SV Angel and Lerer Ventures.
– Image courtesy of Newsle.com.