Twitter has expressed interest in buying Flipboard, the digital magazine app with more than 100 million registered accounts, in an all-stock deal valuing the company at $1 billion, according to a report in Re/code on Monday.
The social network has apparently been in talks with Flipboard about a potential acquisition since January, though those talks are currently on hold.
Flipboard was founded by former Netscape executive and serial entrepreneur Mike McCue in 2010, who built the Palo Alto, California-based startup as a tablet app that pulls content from publishers including the New York Times and Vanity Fair and presents it in a magazine-style layout. The company, which has raised nearly $160 million from backers including Twitter cofounder Jack Dorsey, Ron Conway and Kleiner Perkins Caufield & Byers, said it currently has 65 million monthly active users, up from 50 million in February. Read more...
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