Digital magazine app Flipboard valued at $800m

Flipboard, a magazine app for mobile devices, has been valued at $800 million after a round of funding raised $50m from investors including Goldman Sachs and Rizvi Traverse Management.

The app first launched for iPads in 2010, but has since been downloaded by more than 85m users on a range of Android and iOS devices. In the last six months its user base has grown by 50 per cent, and it now reports 200,000 new downloads each day.

Billing itself as a “personal magazine”, Flipboard provides users with the ability to search content from different online publications, as well as aggregating articles from links posted to social media sites such as Facebook and Twitter.

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