The iPad was a futuristic gadget when it debuted in April 2010.
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One of the early hits was Flipboard,
a graphical embodiment of social media that launched in July 2010. It
turned Twitter and Facebook feeds into an online magazine by displaying
the photos, articles, or other pages that people linked to. Previews of
articles were laid out like items on a newspaper page.
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Flipboard has also grown to over 100 million monthly active users.
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"To get a company of 160-some people [to profitability], you need about
somewhere in the range of $50-$80 million in revenue annually," he says.
"We are well over more than halfway there."
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Mike says that advertisers "love" Flipboard's ad options, but the proof
will come in revenue. Flipboard is currently selling just 20% of its ad
inventory.
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