Flipboard, the company behind the 'social magazine' iPad app, has announced a partnership with Oprah Winfrey’s media network and an investment of $50 million. The announcement was confirmed by Flipboard CEO Mike McMue at the company’s California office.
“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,” he said.
The new funding round puts the value of the company at $200 million after investment leaders Insight Venture Partners were accompanied by existing investors Kleiner Perkins Caufield & Byers and Index Ventures. Comcast Ventures also took part.
Flipboard said the new funds will be used to increase its 32-person staff to about 50, expand internationally and increase product development on more platforms.
Source : http://www.telegraph.co.uk/technology/social-media/8454313/Flipboard-raises-50m-and-signs-up-Oprah-Winfrey-on-same-day.html
Source : http://www.telegraph.co.uk/technology/social-media/8454313/Flipboard-raises-50m-and-signs-up-Oprah-Winfrey-on-same-day.html
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