CNN announced today it has acquired Zite, a personalized iPad magazine app, for an undisclosed sum. Similar to Flipboard, Zite starts with your Twitter account or Google Reader subscription — along with other customizations — to auto-populate an iPad experience that learns with your reading behavior.
“Zite represents the next generation of content discovery and personalized publishing, and CNN wants to help lead in that space,” said KC Estenson, general manager of CNN Digital. “We think we can advance the industry in a meaningful way that helps content creators expand their businesses while growing the distribution of a product that people already love. The Zite technology can also help CNN’s Websites and apps serve more personalized content, making our current digital services even better.”
Zite promotional video
“Zite is thrilled about combining forces with CNN to create a world-class news discovery platform,” said Mark Johnson, CEO of Zite. “In CNN, we have found a partner who shares our vision and passion. Being part of the CNN family gives us the capital to grow Zite’s business and continue to innovate in the space.” You can read more of Johnson’s thoughts in his blog post here.
The Zite team will remain at its San Francisco headquarters, and Johnson will report to Estenson. Founder Ali Davar will stay on board as Executive Director.
Update: AllThingsD reports the acquisition was in the $20-25 million range.
