Flipboard is On a Roll

Flipboard, the white hot social magazine iPad app startup, has snapped up another company in a bid to make sense out of the streams of links and social data coming from networks like Twitter.

The company announced that it had acquired The Ellerdale Project, a two-year-old company that indexes almost 70 million Facebook, Twitter, and other social status messages a day.

Flipboard, a “revolutionary” social magazine designed for the iPad (Ashton Kutcher’s word, not mine) pulls in articles, photos, and other data from a user’s friends, and spits them out as a cleanly formatted virtual magazine.

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