Twitter in talks to acquire Flipboard for $1bn
Twitter has begun negotiations to acquire article-sharing platform Flipboard for around $1bn (£646m).
Twitter Inc
$53.70
11:00 08/03/24
According to sources cited by technology blog Re/Code, the social media network giant has been in talks with the California-headquartered group since the beginning of the year, as it seeks to complete an all-stock deal.
Flipboard, which launched in 2010 and has received over $160m in funding from a number of investors including Kleiner Perkins Caufield & Byer and Index Ventures, had 100m users in 2014, with 50m monthly active users.
The company, which is headed by Mike McCue, a former Twitter director, was valued at approximately $800m in its latest funding round.