Flipboard Raises $50 Million, Now Valued At $800 Million


Flipboard

Flipboard has been on the rise as a popular social reading app, and has raised $50 million in new funding.

The funding round was led by Goldman Sachs and Rizvi Traverse Management, and according to sources familiar with the matter, gives Flipboard a valuation of $800 million.

Current investors were said to have participated in this latest funding round, and Insight Venture Partners has taken a larger stake in the company.

It’s been over two years since the social reader raised new funding, having secured $50 million in April 2011 at a valuation of $200 million.

With Flipboard hitting 85 million users earlier this month, it’s inching even closer to the 100 million user milestone which could happen before the end of 2013.


Mike Stenger

Lover of technology, Mike often makes jokes that nobody laughs at.

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