Twitter is said to be in talks to acquire Flipboard, the company behind the personalised magazine and news reader app for iOS, Android and Windows Phone.
According to Recode sources, the firm has offered Flipboard upwards of $1 billion (about £650m) in stock to come aboard the good ship Twitter. The report claims talks have been ongoing since January, but both firms have declined to comment.
Flipboard was last valued at around $800 million and has about $50m in revenue to play with, but the app has stagnated somewhat since it rose to prominence around the time the first iPad arrived on the scene.
Twitter has long been searching for ways to increase its user base which finally broke 300m earlier this year.
According to Recode, part of Twitter’s interest may be the chance to bring Flipboard co-founder and former Twitter board member Mike McCue on board. The report even speculates Twitter may be viewing McCue as a replacement for embattled CEO Dick Costolo
Google and Facebook may also be interested, the report states.
Editorial independence
Editorial independence means being able to give an unbiased verdict about a product or company, with the avoidance of conflicts of interest. To ensure this is possible, every member of the editorial staff follows a clear code of conduct.
Professional conduct
We also expect our journalists to follow clear ethical standards in their work. Our staff members must strive for honesty and accuracy in everything they do. We follow the IPSO Editors’ code of practice to underpin these standards.
Editorial independence
Editorial independence means being able to give an unbiased verdict about a product or company, with the avoidance of conflicts of interest. To ensure this is possible, every member of the editorial staff follows a clear code of conduct.
Professional conduct
We also expect our journalists to follow clear ethical standards in their work. Our staff members must strive for honesty and accuracy in everything they do. We follow the IPSO Editors’ code of practice to underpin these standards.