Flipboard is taking its celebrated iPad magazine and shrinking it down so you can take your page flipping, graphics-filled social media experience with you on your iPhone, everywhere you go.

A personal favorite app of Steve Jobs, Flipboard is a visually intense social media aggregator that organizes your friends’ tweets, posts, and links into a magazine-like spread. It’s been a hit with iPad users at large since it debuted in 2010.

Like its iPad counterpart, Flipboard’s new iPhone app consolidates updates from Twitter, Facebook, Instagram, Google Reader, and other similar social a...