The all famous news reader app Flipboard has bought another news app Zite from CNN. CNN acquired Zite in mid-2011 for $25 million and then added CNN content to it. Flipboard says that it will stop updating the Zite app and incorporate its functionalities and CNN news source into its Flipboard app.
CNNMoney reported that the deal was sealed with $60 million. Flipboard was interested in Zite because of its technology – Zite’s personalized content display. Flipboard generates almost 2.5 billion page views per month and adds 250,000 new users everyday.
Source and image : The Verge
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