The magazine-style news reading app Flipboard has acquired rival application Zite from CNN for an undisclosed amount in an effort to challenge Facebook's Paper.
Magazine-style news reading app Flipboard has acquired rival application Zite from CNN for an undisclosed amount.
Zite, much like Flipboard, is a news reader app for iOS and Android, and Flipboard said today that it has "partnered" with CNN to buy Zite from the news outlet, which has owned it since 2011. It's still unclear how much cash Flipboard handed over for Zite, but CNN coughed up $20 million to buy it three years ago.
Once the deal has been finalized, Zite will no longer operate as a standalone app, with its personalization technology and recommendation engine instead set to be integrated into Flipboard.
A description on Zite's website explains, "Zite evaluates millions of new stories every day, looking at the type of article, its key attributes, and how it is shared across the Web."
This sees Flipboard adding to its software technology ahead of the global rollout of Facebook Paper, an app from the social network that clearly mimics the magazine-style app.
Mike McCue, chief executive (CEO) of Flipboard says, "Today marks an important milestone for Flipboard and its readers. By bringing the Zite team and technology to Flipboard, we can deliver an even more personalized experience to every Flipboard reader. By partnering with CNN we can provide the world-class news our audience expects and expand our global coverage in a significant way."
"Together we will continue to pioneer how people read and share the content they care about and give Flipboard readers even more of what they want, all in one place."
KX Estenson, senior vice president and general manager of CNN Digital, adds, "More than a leader in mobile reading, Flipboard has created an incredibly immersive and valuable advertising experience."
"By tapping their expertise, we will create new revenue opportunities and expand CNN's already massive mobile audience. With this deal CNN is invested in the long term success of Flipboard."
This article was originally published on the Inquirer.
This Year's Premier Digital Marketing Event is #CZLSF
ClickZ Live San Francisco (Aug 11-14) brings together the industry's leading practitioners and marketing strategists to deliver 4 days of educational sessions and training workshops. From Data-Driven Marketing to Social, Mobile, Display, Search and Email, this year's comprehensive agenda will help you maximize your marketing efforts and ROI. Register today!
Carly Page joined The INQUIRER as News Editor in April 2012. Before becoming a full-time geek, Carly studied Journalism at the University of Lincoln, and dabbled in the music journalism industry. Carly's main coverage areas include mobile devices, mobile software, telecoms, mobile operators, social networks and anything Breaking Bad related.
The Marketer's Guide to Customer Loyalty
Customer loyalty is imperative to success, but fostering and maintaining loyalty takes a lot of work. This guide is here to help marketers build, execute, and maintain a successful loyalty initiative.
The Multiplier Effect of Integrating Search & Social Advertising
Latest research reveals 68% higher revenue per conversion for marketers who integrate their search & social advertising. In addition to the research results, this whitepaper also outlines 5 strategies and 15 tactics you can use to better integrate your search and social campaigns.
August 21, 2014