Pinterest acquires article-saving app Instapaper for undisclosed amount
In a Tuesday announcement, Pinterest has revealed that it is acquiring article-saving app Instapaper. The acquisition will enable Pinterest to bring about notable improvements to the article-reading experience on its app.
The financial terms of Pinterest's acquisition of Instapaper have not been officially disclosed.
In announcing the acquisition of Instapaper, Pinterest said that it has acquired the company's team and technology; and added that the Instapaper app will continue to operate as a separate app even after the acquisition. Pinterest also added that two of the three Instapaper employees will join Pinterest, where they will work on both Instapaper and Pinterest apps.
With the Instapaper technology boasting the capability to serve better article recommendations by analyzing and predicting the behavior of users, the key objective behind Pinterest's acquisition of Instapaper is to leverage the company's technology, especially since the Pinterest platform is used by millions of users each day for reading and saving articles.
About Pinterest's acquisition of Instapaper, Steve Davis -- Pinterest's lead product manager -- said that the Instapaper team would be "a welcome addition" to Pinterest because of its expertise in "saving, curating and analyzing articles," and added: "Instapaper will work with us to continue building indexing and recommendations technologies."
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