Flipboard is a news-reading application for the iPad and iPhone that presents stories and links from around the web in a visually appealing, magazine-like fashion.
It has proven to be very popular, often listed among the most downloaded free apps in Apple’s App Store. In May 2011, Flipboard CEO Mike McCue said the app’s users were generating more than 8 million “flips” — something approximating pageviews — per day, and as of April 2013, Flipboard reported 6 billion monthly “flips” and 53 million total users. Its iPhone app grew even faster, generating 1 million downloads in its first week in December 2011. The company was valued at $800 million in 2013.
Apple named Flipboard its iPad App of the Year for 2010. The app has been positioned as a more user-friendly iteration of aggregation tools like RSS readers and Twitter apps.
Flipboard plans to generate revenue by selling advertising, aiming at ad rates similar to those of print, which would be far ahead of most online advertising rates. It launched its first advertising program in July 2011 through a partnership with Conde Nast. Its advertising program has drawn criticism from some of its partner publications, leading Conde Nast’s Wired and The New Yorker to pull out of it in June 2012. It announced plans to add video ads in fall 2014.