Flipboard Raises $50M at $200M Valuation

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A cool iPad app can go a long way these days. Flipboard announced today that it has raised $50 million in venture funding at a $200 million valuation, according to BoomTown.

Palo Alto, Calif.-based Flipboard has created a beautiful app for viewing social media using a book's page-turning metaphor. It shows that taking advantage of a touchscreen interface to create a simpler way of doing something that can already be done elsewhere is a valuable contribution, particularly if users adopt it.

"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," said Flipboard chief executive Mike McCue told BoomTown.  "And there is a lot more to come–on a scale of one to 10, we're just at a two or three."

Much of the funding came from New York-based Insight Venture Partnres. Previously, Flipboard raised $10.5 million.

By CLAIRE CAIN MILLER 15 Apr, 2011

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Source: http://feeds.nytimes.com/click.phdo?i=d87b4b1f99549c594967fbacfe8dbdc6
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