• scobleizer, Wednesday, July 21, 2010 1:28 PM

It may have been competing for attention with Apple's Q3 earnings, but the industry was abuzz Wednesday about a new social news iPad app named Flipboard. For anyone who's familiar with Twitter clients like TweetDeck and Seesmic, news readers like NewsGator and Google Reader, and news aggregators like Techmeme and Google News, blogger Robert Scoble insists, "You've never seen [anything] like this."

What does Flipboard do? "It turns your Facebook and Twitter account into something that looks like a magazine," Scoble explains. "It also lets you build a custom magazine, either by choosing from Flipboard's pre-built curated 'boards' or by importing Twitter lists." Flipboard, the company, previously closed one round of funding from Kleiner Perkins, and on Wednesday announced a new round along with the with an acquisition of the Ellerdale Project, a real-time data tracker. In 2004, McCue sold TellMe, a telephone-based applications company he founded, to Microsoft for about $800 million.

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