Flipboard CEO on Acquisition: 'I Never Would Say Never'
Technology Editor, CNBC.com
Flipboard CEO Mike McCue shot down rumors Monday that his company was for sale, but added he would "never say never to an acquisition," and also said that he sees his company and Twitter working closer together.
"Flipboard is not a company that we are building to sell quickly. We're only two years in. We have a huge amount of opportunity in front of us, McCue said on CNBC's Power Lunch. "I'm the kind of entrepreneur that wants to build a company for the long-term and I would never say "never" to an acquisition, but that's not our stance right now."
Flipboard, a social-network aggregator app that presents media in a magazine-format on mobile devices, has been rumored as a possible acquisition target for Twitter. McCue, who sits on the board of Twitter, refused to comment on a potential buy from the social network, but did acknowledge the two companies are working in the same area
"There is no question that the two companies are playing in the same space," McCue said.
There has been speculation that McCue would step down from his board position because of potential future conflicts between the two company's products. However, McCue said he has spoken with Twitter CEO Dick Costolo and Jack Dorsey, Twitter's executive chairman about conflicting issues and said he actually sees Flipboard working with Twitter more.
"I don't see it as a collision. I actually see the companies being able to work more and more together and there are a lot of opportunities," McCue said. "Twitter is a fundamental part of Flipboard and so I think you will see the two companies more and more together."
Twitter is already integrated into the Flipboard app and uses tweet feeds to generate links.