Flipboard to raise another $50 million

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Flipboard is going to be raising another $50 million as part of a second half for their third round of funding.  Flipboard is a popular digital magazine service that has around 85 million monthly readers. The app is available on iOS and Android devices. The app grabs articles, videos, and social content from various news websites and social networks. This round of funding is going to be led by Rizvi Traverse Management. Based on this round, it is believed that Flipboard will have a valuation of around $800 million. The company have raised over $160 million in funding thus far.
[Source: VentureBeat]

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