A new application called Flipboard has been released for iPad.

Flipboard scours through your social networks and picks up on links, pictures and stories which it then combines to produce an e-magazine , which you can view on your Apple iPad. The application can analyze both Facebook and Twitter, which is a good start with more social networks to be added later.

It's an interesting concept because it means you'll always have something unique to read and it also provides an easy way to keep up to date with what your friends are doing.

The application is available free and will be supported by advertising and can be downloaded from the application store right now.

The Flipboard company also recently acquired another start-up that made technology that can analyse what information appeals to different people so maybe they plan to use the data to offer relevant ads or to pass on the data.