CNN Acquires iPad App Company Zite
CNN has acquired Zite, a company that developed an iPad that has a personalized magazine-like interface. The announcement was made by Jim Walton, the president of CNN Worldwide.
“Zite represents the next generation of content discovery and personalized publishing, and CNN wants to help lead in that space,” stated CNN Digital general manager KC Estenson. “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 is an iPad application that uses technology for providing an individually personalized experience.
“Zite is thrilled about combining forces with CNN to create a world-class news discovery platform,” stated Zite CEO Mark Johnson. “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.”
Johnson will continue running Zite’s day-to-day operations in San Francisco and will report to Estenson. Zite Founder Ali Davar will remain on board as an Executive Director. Mike Klass will continue to lead Zite’s technology research and development as CTO.
[CNN]This article was written by Amit Chowdhry. You can follow me at @amitchowdhry or on Google+ at +AmitChowdhry