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Vancouver’s Zite Rumoured to Be Purchased by CNN for $20-25 Million

by on August 22nd, 2011

Zite is one my favourite apps for discovering the latest news and stories on a variety of topics. Created by a team that included University of British Columbia Computer Science graduate, Ali Davar, the app is widely popular for its innovative algorithm to curate personalized stories.

Back in late March, Zite was hit with a cease and decist letter from publishers noting copyright violations. The developers soon released a new version to address these complaints. But now, according to TechVibes, it appears Zite is ready to hit the jackpot, as CNN is rumoured to acquire the tech start up:

The biggest story (and the one that was easiest to confirm with multiple independent sources) is that Vancouver’s Zite is apparently in the process of being acquired by CNN for $20-25 Million.

If this deal goes through, the Zite team will be hitting one huge payday. Their app is widely popular, and is a different take from similar apps such as Pulse and Flipboard.

Click here to download Zite, it’s free. Any Zite lovers out there?

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Posted under: App Store