Flipboard, a Palo Alto, CA-based provider of a social magazine, raised $50m in funding.
The investor was JP Morgan.
The company intends to use the funds for product development and team addition.
Co-founded by CEO Mike McCue and Evan Doll in 2010, Flipboard provides people with a personal magazine that can be customized with topics, news and events they care about. People can follow their favorite sources from around the world and then collect stories, images and videos into their own magazines – sharing items, express their perspectives or things they want to read later.