Pinterest Buys Read-it-Later App Instapaper

Read-it-later app Instapaper has a new owner: Pinterest.

The Instapaper team announced the acquisition in a Tuesday blog post; financial terms of the deal were not disclosed. The buy comes three years after betaworks acquired Instapaper from its original creator, Marco Arment.

In the post, the Inspaper team said its core mission is to help users "discover, save, and experience interesting Web content," which aligns with Pinterest's primary goal of helping people "discover the things they love, and inspire them to go do those things in their daily lives."

"Joining Pinterest provides us with the additional resources and experience necessary to achieve that shared mission on a much larger scale," the team wrote.

For the uninitiated, Instapaper, first launched in 2008, lets you save an unlimited number of articles and videos for later viewing on your iPhone, iPad, Android, or Kindle.

Current Instapaper users: The service you know and love is not going away. The Instapaper team will be moving from betaworks in NYC to Pinterest's headquarters in San Francisco, but nothing will change for users.

"We'll continue to make Instapaper a great place to save and read articles," the team wrote.

Instapaper is, however, saying goodbye to its developer product, Instaparser. As of today, the company is no longer accepting new signups for Instaparser, and will stop billing existing customers. The service will officially shut down on Nov. 1.

Pinterest, meanwhile, may get some new features as a result of this buy: The Instapaper team said it plans to leverage its experience and technology to help bolster Pinterest's discovery products and develop "certain Rich Pin types."

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