Palo Alto, Calif. – Flipboard, the developer of an
application that presents content from Facebook and other social media sites in
a magazine format for tablets, is raising a new round of funding at a $200
million valuation, All Things D reported, citing sources.
Launched in July
2010, Palo Alto, Calif.-based Flipboard previously raised $10.5 million, from
backers including Kleiner Perkins Caufield & Byers, Index Ventures, and
angel investors including Jack Dorsey and Ron Conway.
The free Flipboard app
currently does bring any revenue, but the company plans to generate ad revenue
and potentially launch a subscription plan.
(All Things D)