Flipboard acquires Zite, CNN’s News Reader app

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.

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