CNN has sold its news reader app Zite to Flipboard, with a deal valued at $60 million.
Zite is a news reader app, that function the same way as Flipboard, It collect the most interesting and popular apps based on your interests, and display them to you in Magazine style.
“By bringing the Zite team and technology to Flipboard, we can deliver an even more personalized experience to every Flipboard reader,” Flipboard CEO Mike McCue said.
Flipboard and Zite are the most popular news reader app on the AppStore with a magazine style, both have their own loyal user, and i guess its good news for some and bad new for others maybe.
It’s worth noting that CNN acquired Zite in August 30th, 2011.
Update: here’s the announcement from Flipboard’s Blog
We acquired Zite from CNN to address something we’ve heard from a lot of you: although you can already read thousands of sources from over 20 regions on Flipboard, you want easier and better ways to discover content about the things that matter to you. Adding Zite’s expertise in personalization and recommendations to Flipboard’s product experience and powerful curator community will create an unparalleled personal magazine for our millions of readers.
While the Zite and Flipboard teams integrate and dive into this work together, Zite users should know that they can continue to use the existing Zite app and will soon be able to enjoy a great Zite experience on Flipboard. We’ll be sure to share more details as they’re available. I am so excited for what lies ahead.
here’s the announcement from Zite’s Blog
Pictured: Zite Co-founder and CTO Mike Klaas (left) and Flipboard CEO Mike McCue
I’m incredibly proud of the team for what they’ve accomplished in building Zite the last nine years, and we are all committed to creating something ever better at Flipboard. I’m not going to lie: I feel a tinge of nervous excitement when I think what we will build together.