Pinterest has today announced that is acquiring the team behind Instapaper, nearly three years after its acquisition by Betaworks. Both Pinterest and Instapaper will continue to operate as separate apps, with the team now also working on improving the core Pinterest experience as it continues to update Instapaper (via TechCrunch).
“Today, we’re excited to announce that Instapaper is joining Pinterest. In the three years since betaworks acquired Instapaper from Marco Arment, we’ve completely rewritten our backend, overhauled our mobile and web clients, improved parsing and search, and introduced tons of great features like highlights, text-to-speech, and speed reading to the product.
All of these features and developments revolved around the core mission of Instapaper, which is allowing our users to discover, save, and experience interesting web content. In that respect, 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”.
Pinterest, which also acquired the team behind Highlight and Shorts last month, believes one of its core tenets is bookmarking, which is also Instapaper’s primary goal with its app.
Instapaper was one of the original “save it for later” readers that became an early popular application on the iPhone, holding high rankings in the App Store in the news category. However, there’s been a lot of increasing competition lately from other companies, such as Pocket.
Instapaper has also announced that it will be ceasing signups for its developer product Instaparser and halt billing for existing customers. In order to ensure a smooth transition for current users, it will keep Instaparser running until November 1, 2016.