Flipboard Raises $10.5M in Series A Venture Capital Funding; Acquires Ellerdale

Flipboard, a Palo Alto, California-based social magazine, has raised $10.5m in a Series A venture capital round.
Investors include Kleiner Perkins Caufield and Byers, Index Ventures, Twitter co-founder Jack Dorsey, Facebook co-founder Dustin Moskovitz, The Chernin Group founded by Peter Chernin, Ron Conway, Alfred Lin, Peter Currie, Quincy Smith, and Ashton Kutcher.
Parts of the funds were used to acquire real-time Web intelligence company Ellerdale, which provides an advanced semantic analysis of large, real-time data streams. This acquistion will enable Flipboard to extract, categorize and feature hot trending content from across a variety of social networks.

Designed for the iPad, Flipboard provides an engaging way to discover, view and share content from social networks such as Facebook and Twitter.

Arthur van Hoff, a leading Silicon Valley technologist who played a major role in the creation of Java, will become Flipboard╩╝s Chief Technology Officer.
FinSMEs
21/07/2010

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