Flipboard Raises $50M in Funding

According to multiple reports, Flipboard, a Palo Alto-based startup that enables users to create their own social magazines, raised $50m in funding.

The round, which valued the company at $800m, was led by Suhail Rizvi’s Rizvi Traverse Management and Goldman Sachs, with participation from Index Ventures, Insight Venture Partners and Kleiner Perkins Caufield & Byers.

Led by Mike McCue, Flipboard allows people to discover news from social networks such as Twitter and Facebook, and displays the content in magazine form on an iPad.
The company, which has raised $110m to date, is currently hiring.



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