Date
23 January 2017
Flipboard aggregates stories, enabling users to curate them into a digital magazine. Photo: Internet
Flipboard aggregates stories, enabling users to curate them into a digital magazine. Photo: Internet

Google, Yahoo eyeing newsreader app

Google and Yahoo have made approaches about buying Flipboard after the maker of a newsreader app signaled it’s open to acquisition talks.

The discussions mainly covered how products could be integrated, the Wall Street Journal reported Tuesday, citing people familiar with the matter.

No price has been discussed.

Several other internet giants have inquired about buying Flipboard Inc., the report said.

Twitter Inc. discussed a US$1 billion deal but the talks have largely stalled since April, according to technology news site Re/code.

Flipboard aggregates stories from various publishers as well as users’ social networking circles, enabling them to curate their own news-reading experience into a digital magazine.

The start-up, founded in late 2010, said it had 65 million monthly active users in May, up from 50 million in February.

Twitter financial chief Anthony Noto have been pushing for a deal.

The former Goldman Sachs Group Inc. banker led that firm’s investment in Flipboard when the start-up raised US$50 million in 2013.

At the time, Goldman and other venture capital investors valued Flipboard at US$800 million.

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