RSS monetization network Mediafed has bought news reading platform and app publisher Taptu for an undisclosed amount, the companies announced today.
Following the deal, Mediafed and Taptu hope to create a “digital publishing powerhouse” that will compete with players such as Flipboard and Pulse while successfully driving revenues from advertising.
As you may remember, Taptu started operating as a mobile search company, before pivoting to a broader model based on the technology it had developed.
In practical terms, it manages its tailored social news reader, while building additional mobile apps that let users search and consume content. For instance, it operates Wapedia, a mobile version of Wikipedia that has been downloaded over 4 million times.
Following its sale, Taptu now plans to monetize its activities platform by harnessing Mediafed’s RSS advertising network, which currently boasts 125 million users and 1,200 premium publishers, including The New York Times, The Guardian and Le Monde.
From Mediafed’s perspective, acquiring Taptu represents an opportunity to get access to its talent, which has been developing search and discovery technology since 2006. This is also a chance for the company to expand its reach in the mobile space, Mediafed’s CEO Ashley Harrison explains:
“Our acquisition of Taptu will create the first global platform to monetize RSS across all digital devices. This is the future of publishing and we are elated to gain the incredible Taptu product, technology, team and committed user base in this quest.”
It’s worth noting that the new entity will keep on maintaining Taptu’s existing offering and implementing new features into its apps – not only into its multi-platform consumer news reader, but also into its third-party mobile publishing platform, Tapform.
Image credit: Anitakhart
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