Flipboard is booming. The company closed the round of series C $100 million in December entirely in an assessment of $800 million, and also announced that its users have topped 100 million dollars. On Wednesday, the company announced its acquisition of fellow journalist personal Zite application for 60 million dollars from the CNN news application, that bought for $20 million in 2011.
Flipboard is a social-network aggregation, magazine-format application software for Android, Windows 8, Blackberry 10 and iOS operating systems.
Flipboard offers a way to print such as publishers, who not only does not compete with the content, but comes with the added bonus of being more convenient for advertising brand (as opposed to direct response advertising so common on the Internet ).
The Flipboard has partnered with several publishers on a large scale who are running full-page advertisements on the application, including National Geographic, The Atlantic, Esquire, CNET, Eli, ESPN, Financial Times, Forbes, Marie Claire, National Geographic, the magazine Time, The New York Times, Vanity Fair, and more. And run the application through advertising campaigns from brands such as Chanel, Cisco, Four Seasons, Gucci, Levi’s, Louis Vuitton, Hugo Boss, Lexus, Red Bull, Starbucks, Toyota, Volvo, and others according to vator TV.
And those brands and access to the right demographics: Flipboard readers tend to be more affluent and highly educated, so they have discretionary income to spend on a Louis Vuitton bag. Those readers and “flipping” seven billion page views per month. So it was not surprising that 49% of advertisers Flipboard for renewal.
Publishers, and the good news is that this added “access” and “brand awareness” leads to more subscribers. A full 10% of readers Flipboard ends up in their favorite magazines.
Flipboard has raised more than $160 million so far from Goldman Sachs, Index Ventures, Kleiner Perkins, and more.