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Business & Technology

Dephering Twitter's Buyout of Flipboard

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Dephering Twitter's Buyout of Flipboard

2015-05-27 06:07:40

According to Re/code, Twitter has expressed interest in buying Flipboard on Monday for an all-stock deal valued at $1 billion.
Flipboard is a digital magazine app with more than 100 million registered accounts.
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.
The company, which raised nearly $160 million from backers including Twitter co-founder Jack Dorsey, Ron Conway and Kleiner Perkins Caufield & Byers, said it currently has 65 million monthly active users, up from 50 million in February.

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