Tuesday, 24 September 2013
Flipboard raises 50 million Dollars. Value of 800 million. And it deserves it all.
My all-time favourite App?
Flipboard and it's not an App, it's a thing of beauty, allowing you to merge and mash all your feeds into one "designery" space. This is top end design with relevant content that's really going upwards.
They've just announced they've raised 50 million us Dollars in funding, bringing the company valuation to about 800 million usd.
Founded only in 2010 by Mike McCue, they have 85 million registered users which surprises me that it's so low....
Almost like a top-end magazine it aggregates news feeds with social media in the way you want it as "flippable" pages. It also allows you consequently, to create your own magazine and over a million have done that including 'Rolling Stone' and 'National Geographic'. That's a self-publishing dream.
But the long term play for Flipboard I think anyway, is deciding on what content to include and by that I mean, getting revenues from publishers who want to be included. If you own the App, you decide on what goes in.
With 85 million users it hasn't reached the critical mass of say, Twitter (800 million)....yet. But when it does, it will be a real player that it deserves to be. It wasn't that long ago (a year?) that they had 20 million users.
They've also gently started ECommerce with a 'click to buy' button working on a sales margin. That's going to be big.
It's the sort of news innovation coupled with top rate design and functionality, that is leading the way (although the current digital issue of 'Wired', is also something to behold).
And if you haven't got it, get it now.
Flipboard are getting the financial recognition at last.