Confirmed: Flipboard Raises $50 Million At A $200 Million Valuation

Posted Apr 14, 2011

Flipboard CEO Mike McCue has confirmed that the company has raised $50 million at a $200 million valuation. Insight Venture Partners led this round of funding. ?We?re obviously thrilled, because we think it confirms our focus that people want a beautifully designed way to interact with content and to share it,? stated McCue. ?And there is a lot more to come?on a scale of one to 10, we?re just at a two or three.?

Other investors in this round includes Comcast Interactive Capital, Kleiner Perkins, Index Ventures, Jack Dorsey, Dustin Moskovitz, Ron Conway, Ashton Kutcher, and Peter Chernin. Flipboard was co-founded by McCue and former Apple iPhone engineer Evan Doll.

Flipboard grabs information from media RSS feeds, Twitter, and Facebook data. Then it re-organizes the data in a tablet format. Flipboard plans on using the funding to increase the staff from 32 to 50 along with expanding internationally.