Flipboard, the uber-popular social reader, just continues to grow as it grabbed new funding of $50 million. Rizvi Traverse Management and Goldman Sachs help raise the money, putting the company’s valuation at $800 million.
According to the AllThingsD report, Rizvi is no stranger to putting cash toward other social networking companies such as Twitter, Facebook and, most recently, Square. So putting more finances in a company like Flipboard is no surprise, especially since the company is on fire with 20 million users.
Before today, Flipboard hadn’t received any funding since mid-2011, when it raised $50 million at a $200 million valuation. That came after a $10.5 million first round, says the report.
Flipboard is in the safe zone now, as it truly has no real competitors. Services like Google’s Currents, Zite, Circa, Pulse and others, can’t hold a candle to it.
[via AllThingsD]