In 2011, CNN acquired Zite, a news reader app. The market for News reader app was fast growing at the time and the race is now settling down. Flipboard has emerged as one of the leaders of News reader apps and despite many acquisition offers, Flipboard is still alone and not acquired by any big players. As a turn of events, Flipboard has acquired CNN’s Zite for a deal that could reach as high as 60$ Million.
Flipboard is definitely one of the popular news reader apps in the market and is available across various platforms like iOS, Android and Windows. Flipboard brings customized content from social networks and news sites and combines them into a personal magazine like experience. With the acquisition of Zite, Flipboard hopes that it will be able to deliver more personalized news to the users.
Speaking about the acquisition, Flipboard CEO Mike McCue, said “By bringing the Zite team and technology to Flipboard, we can deliver an even more personalized experience to every Flipboard reader.”