And if the company included everyone who has interacted with the app, the number would be over 100 million. That may be kind of old-fashioned, but that’s the way we look at it.”įlipboard had about 40 million monthly users last year, but it now has more than 80 million, McCue said. “In cycles like this, there’s often a view that people should cash out as soon as possible, that companies should be around for two years and then sell for billions, but that’s not what we are in this for,” McCue said.
But that isn’t what he and the rest of the company see as the most important goal, said McCue. The Flipboard CEO added that to some, it might seem as though the privately-held company is failing because it isn’t worth billions of dollars by now, like some of its fellow Silicon Valley startups, or hasn’t been bought in a high-profile acquisition. The company’s net revenue-that is, the amount it brings in after payments to publishers-is on track to double this year compared to last year, and the number of monthly users has doubled in the same period, McCue said. McCue, however, said in an interview with Fortune that Flipboard continues to grow rapidly, both in terms of revenue and users. A Bloomberg report struck a similar note by describing failed acquisition talks and disappointing revenue. A recent report in the Wall Street Journal said the company was “floundering” amid competition from Apple and others, and mentioned what it called an “exodus” of executives, including the company’s chief financial officer, as well as co-founder Evan Doll.
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