Twitter could pay more than $1 billion in stock to make the acquisition, Flipboard says that it has 100 million activated users while others say that the bloom is off the rose and growth has slowed.
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Deeper integration of the Twitter and Flipboard apps as a result of an acquisition could help Flipboard take advantage of advertisements from some major brands. Flipboard, meanwhile, could become larger by expanding to Twitter's entire user base.
Flipboard launched in 2010 and is based in Palo Alto, Calif. The company has raised more than $160 million in funding, with backing from the likes of Kleiner Perkins Caufield & Byers, Index Ventures, Insight Venture Partners, and Rizvi Traverse Management.
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Last year, Flipboard acquired Zite news reading app and was valued at about $800 million after last investment round, said the report. Also, in February, Flipboard launched a web app for desktop to further expand its reach.