Learning to play nicely with publishers may have helped iPad magazine startup Zite earn a payday. The company’s iPad app is reportedly the subject of great interest from CNN, which could be prepared to pay up to $25 million for the operation.
Techvibes, a Canada-focused tech news site, reported Monday that Zite is in talks with CNN to sell the company for between $20 million to $25 million. Zite’s iPad app builds customized magazines for readers based on their interests and their social media feeds, such as Twitter and Google Reader. The app got off to a rocky debut when several publishers sent Zite cease-and-desist letters complaining about the user interface of the app, which presents the content of a news story in an easy-to-read format that also strips away the ads.
Tuesday, August 23, 2011
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