tech2 News StaffMay 26, 2015 19:31:46 IST
Twitter has reportedly been in talks to acquire Flipboard in an 'all-stock deal' that can value the company at over $1 billion. At the moment, there is no confirmation on why Twitter is interested in this deal.
According to a report by Re/Code, discussions between the two companies which have been pushed by Twitter CFO Anthony Noto, have been taking place since the beginning of the year.It is believed that for Twitter, this deal would bring an experienced product team headed by well-known Silicon Valley entrepreneur Mike McCue to the company. Flipboard has also bought its rival Zite, from CNN, in a deal valued at $60 million last year.
As of now, sources close to the matter between Twitter and Flipboard have said that these talks, seem to be currently 'stalled'. The report points out that acquiring Flipboard will not automatically help Twitter increase its own user base of 302 million people. Even so, Flipboard seems to be an attractive acquisition and many others such as Facebook and Google could be potential buyers for the same.
A few days ago, Twitter co-founder Biz Stone invested in Indian shopping app 'Lookup'. The Twitter co-founder has joined Lookup’s team as an investor and advisor. However, details of his investment were not shared. Within about five months of launch, Lookup has already registered over 200,000 downloads and has answered over three million queries.
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