Pinterest has purchased Instapaper, an app that allows users to save news articles, videos, recipes and other online content and read it later.
There is a lot of overlap between Pinterest and Instapaper. Joining Pinterest provides us with the additional resources and experience necessary to achieve that shared mission on a much larger scale, Instapaper wrote in a blog post on Tuesday.
The company did not disclose the financial terms of the deal.
Instapaper was created by web developer Marco Arment in 2008, who also co-founded microblogging site Tumblr. In 2013, Arment sold a majority stake in the company to Betaworks, a seed stage venture capital firm based in New York.
SiliconBeat reached out to Pinterest about the acquisition and this post will be updated if they respond.
Photo Credit: Pinterest s logo. Lionel Bonaventure, AFP/Getty Images.
The post Pinterest purchases bookmarking app Instapaper appeared first on SiliconBeat.
