Flipboard on Thursday confirmed that it has secured $50 million in funding, which values the company at $200 million.
The money will be used “to grow the company and product as well as give us a good runway to build the business model out and create great partnerships in the years ahead,” a Flipboard spokeswoman said in an email.
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The news comes the same day that Flipboard announced it will have a special “Oprah” section on the app, the first time Flipboard has had content from a branded partner on its front page. Users can tap into the latest info from the talk show host, read content from “O” magazine, and view personal “Farewell Countdown Videos” posted exclusively on Oprah.com and Flipboard.
Flipboard, which received Apple’s iPad ‘App of the Year’ award in November, was launched in June and allows users to see links, articles, and photos from an array of social services (like Facebook and Twitter) aggregated and re-formatted to look like a personalized digital magazine.
Flipboard is the brainchild of Mike McCue, former CEO of Tellme, and Evan Doll, a former iPhone engineer at Apple. Investors include Twitter co-founder Jack Dorsey, Facebook co-founder Dustin Moskovitz, and Ashton Kutcher. Last year, the company raised $10.5 million in a Series A venture capital round.
The app got a major update in December, which included richer social features and faster browsing. The update added Google Reader (the “most-requested feature”) and Flickr feeds as well as fuller two-way interaction with Facebook and Twitter networks.
For more, see PCMag’s full review of Flipboard and the slideshow below.
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