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.
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