Flipboard news6/6/2023 Why would publishers want to partner with a company that’s going to take a cut of what little earnings they’re barely scraping up as it is? A large part of it is reach and brand awareness. So if publishers are making pennies on their own Web content, how in the world is Flipboard, which derives its revenue by taking a cut of publishers’ ad revenue, making money? While the company has declined to state exactly how much it takes, CEO Mike McCue has said that it’s “very small.” Making the switch to digital has been a tough bag for many publishers as they’ve seen their revenues dwindle in the face of free/anytime/anywhere Internet content. On Wednesday, the company announced its acquisition of fellow personalized news app Zite for $60 million from CNN, which bought the news app for $20 million in 2011.īut the publishing industry isn’t what it used to be these days. The company closed out a Series C round of $100 million altogether in December at an $800 million valuation, and it also announced that its users had topped 100 million. ![]() As publishers watch their revenues tank in the wake of Web content, how is Flipboard making money?įlipboard is booming.
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