Flipboard has been able to stay on top of the extremely competitive arena of content presentation and distribution for a couple of years now. This latest round of funding against a strong valuation should help them maintain their grip on the top spot.
According to sources close to the situation, Flipboard has raised $50 million in new funding, in a round led by Rizvi Traverse Management and Goldman Sachs.
The new funding puts the valuation of the Silicon Valley startup that makes the popular social reading service at $800 million, said sources.
