Flipboard Snags $50M

Palo Alto-based Flipboard, the developer of tablet applications for reading magazines, has raised another $50M in funding. The funding was led by Rizvi Traverse Management and Goldman Sachs, and also included Insight Venture Partners, Kleiner Perkins Caufield & Byers, and Index Ventures, along with the company's other prior investors. The round reportedly values the company at around $800M. Flipboard's software lets users easily browse through magazines and other information on their tablet. More information »