Flipboard started as an iPad app that allowed users to take content from the web and turn that content into digital magazines for reading. Users could select Twitter feeds, Facebook, RSS, and other methods of receiving content from the web. Flipboard has made a bookmarklet available that allows users to create and edit magazines for the purpose of turning content into a digital magazine. Users can have different magazines for different types of content and also import a magazine "cover" of their choice.
To learn more, check out the article on Make Use Of about the bookmarklet and how to set up a reader using the Flipboard service.