Photo: Apple App Store
Zinio raised $20 million according to its last SEC filing, Techcrunch reports.There is no word on the valuation or the investors, but that increases the company’s total funding to $27 million.
They will presumable use the money to compete with Apple’s Newsstand.
There is plenty of money flowing into the tablet magazine app space. In April, Flipboard raised $50 million at a $200 million valuation. In August, CNN acquired Zite for $20-$25 million.
Yahoo launched Livestand, its Flipboard clone, last month.
Zinio claims it’s the world’s largest digital newsstand and bookstore with over 850 brands available.
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