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Rumor: Flipboard to close another $50 million in VC funding

by Doug Drinkwater

November 26 2013

The good news just keeps flowing at social news application Flipboard, which is reportedly about to close another $50 million in venture capitalist funding.

Citing unnamed sources, Fortune reports that the news aggregator is in the final stages of raising a $50 million funding round, just two months after the firm raised $50 million at a reported $800 million valuation.

Rizvi Traverse Management is reportedly leading the funding, while others are said to include Goldman Sachs, Index Ventures, Insight Venture Partners and Kleiner Perkins Caufield & Byers. Rizvi was behind the last round of funding which, prior to the announcement, was always rumoured to be the region of $100 million.

(Worth reading: Flipboard now reportedly worth a whopping $800 million & How publishers and tablet readers will benefit from the future of Flipboard, Zite and news aggregation)

Should Flipboard close this round, it will have raised $160 million to date, making it arguably the best funded news aggregator above competitors like Zite and Pulse (now owned by LinkedIn).

Flipboard last month announced that it had hit 90 million users.

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