Palo Alto, Calif. – Flipboard, the developer of a social magazine
app for mobile devices, has raised $50 million in its second round of funding at
a $200 million valuation, All Things D reported. Insight Venture Partners led
the investment round; Comcast Interactive Capital, Kleiner Perkins Caufield
& Byars, Index Ventures, Jack Dorsey, Dustin Moskovitz, Ron Conway, Ashton
Kutcher and Peter Chernin also participated.
Palo Alto, Calif.-based
Flipboard’s app pulls status updates from Facebook and Twitter, along with
media news feeds, and arranges them in a magazine format navigable by
Flipboard has also announced a new partnership with OWN, the
cable network venture between Oprah Winfrey and Discovery.
The company will use
the funds to hire additional staff, as well as for international expansion,
acquisitions and further product development.
(All Things D)