CNN is acquiring Zite, a Canadian tablet software developer behind the same-named personalized iPad magazine. The application, in case you don’t know, relies on user’s social media feeds and interests to prepare the content. Moreover, user ratings are also considered, telling Zite what kind of articles he or she likes to read.
At the moment, Zite is available as an iPad app only, but the plan is to enter other platforms and reach even more users. Speaking of users, during the week Zite debuted in the AppStore, the application was downloaded 120,000 times. New figures are unknown but we guess there are less than 2 million people using Zite — considering that Flipboard has about 3 million users.
CNN’s plan is keep Zite operating as an independent business, while also planning to integrate some of its capabilities in its own website and apps. More than 12 million people have downloaded CNN’s app and considering the network’s reach, Zite could easily hit the mainstream consumer in no time at all.
Also as part of the acquisition, Zite’s 8-people staff will relocate its headquarters to San Francisco. The terms of the deal were not disclosed.
The market for personalized magazines is heating up; in addition to Flipboard and Zite, AOL has recently launched its own such application called AOL Editions, which — again considering AOL’s reach — could become popular in a record amount of time.
Zite Personalized Magazine (FREE) [iTunes link]
