Palo Alto, Calif. - Flipboard, the developer of an application that presents content from Facebook and other social media sites in a magazine format for tablets, is raising a new round of funding at a $200 million valuation, All Things D reported, citing sources.
Launched in July 2010, Palo Alto, Calif.-based Flipboard previously raised $10.5 million, from backers including Kleiner Perkins Caufield & Byers, Index Ventures, and angel investors including Jack Dorsey and Ron Conway.
The free Flipboard app currently does bring any revenue, but the company plans to generate ad revenue and potentially launch a subscription plan.
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(All Things D)
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