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Twitter Flipboard wants to buy for $1 billion

Twitter in talks to buy news aggregator Flipboard. This was reported to the edition Recode several sources familiar with the negotiations.

Flipboard is a personalized digital magazine. Its main innovation is that it scans the tape for links and images and displays news so that they are located on the page of a glossy magazine.

The Flipboard app appeared in the App Store in the summer of 2010 and was initially available only for iPad. At the moment, in addition to mobile programs have a version of Flipboard for the browser, which almost exactly reproduces the experience on the iPhone and iPad, to accommodate the increased size of the screen.

The initiator of purchase of Flipboard is the financial Manager Twitter Anthony Noto, who is also responsible for the marketing, negotiations are underway with the beginning of the year. Now progress in the discussion, indicates the source has stopped. As specified, Flipboard valued at $1 billion, and it is scheduled to be purchased for the shares.

The edition linked the talks to buy growing on Twitter pressure from investors, requiring that the company increased the audience and updated products. It is emphasized that both companies and so cooperate in several areas.

Noto earlier in 2015, stressed that Twitter should be strengthened marketing activities due to the reduction of the growth of the audience. According to statistics Flipboard, the service at the same time approximately 100 million people. The number of active users during the month the company did not disclose.

During the last investment round Flipboard was valued at $800 million, the company’s revenue, according to a source publication, amount to about $50 million annually.

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