Taptu?s Acquisition By MediaFed Hints At Smart Move To Put The Heat On Flipboard And The Rest

Taptu, a competitor with Flipboard and Pulse in the 'tablet news reader' stakes, was aiming to be the new-new thing when it launched back in 2010. A few iterations and fund-raising's later it's fair to say that it concluded it was going to be tough to compete in that market. Today it's announced its acquisition by Mediafed. Who, I hear you ask? London-based Mediafed has been around since 2007, selling advertising into the RSS feeds of major newspaper and magazine publishers. Financial terms were undisclosed, but to date Taptu has received $18 million in venture funding from 3i Group, Sofinnova Ventures and DFJ Esprit. Now, MediaFed will effectively use Taptu's app - which will still be developed - as a vehicle for its client's feeds (as well as whatever users themselves choose). Taptu CEO Mitch Lazar will stay on for a period as an adviser and the Taptu developer team stays on board.

Source: http://feedproxy.google.com/~r/Techcrunch/~3/3LuIntsHDhQ/

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