Flipboard Raises $50 Million, Releases Updated App for iPad, iPhone

Flipboard Raises $50 Million, Releases Updated App for iPad, iPhone Aggregators Some would quake at the thought of having both Facebook and Apple as competitors, but not Flipboard.

The news aggregator told VentureBeat Wednesday that it had raised $50 million in a new capital funding round. "I can confirm that we closed a $50 million round with a new institutional investor," a spokesperson wrote in an email. "We’ll use the funds to expand our engineering and sales teams as well as increase investment in infrastructure to support the growing number of readers and curators on Flipboard."

The funding round had been previously reported by Techcrunch, which said (based on DE state filings) that the funds had probably been raised in June. Flipboard had previously raised $160 million in four funding rounds.

This a bold move for a company facing new competition from Apple News, which is due out with iOS 9. Pundits had been speculating for over 6 months now that Flipboard might instead be acquired by a tech company with deeper pockets. Yahoo and Google were both rumored to be sniffing around, and so was Twitter.

In related news, Flipboard's iOS app was updated this morning with a few tweaks and improvements:

  • By popularrequest, your “Likes” are saved and accessible in your profile tab. It's a great, new way to share your interests, and bookmark your favorite stories for later.Improvements including better search relevance, a more robust privacy section, a new look for the compose feature, as well as many bug fixes.

You can find the app in iTunes.
TNM

Nate Hoffelder

View posts by Nate Hoffelder
Nate Hoffelder is the founder and editor of The Digital Reader: He's here to chew bubble gum and fix broken websites, and he is all out of bubble gum. He has been blogging about indie authors since 2010 while learning new tech skills at the drop of a hat. He fixes author sites, and shares what he learns on The Digital Reader's blog. In his spare time, he fosters dogs for A Forever Home, a local rescue group.

3 Comments

  1. Ben Sobieck23 July, 2015

    I received a ton of traffic from Flipboard recently. I went to check it out, and I’d like my commission from that $50 million, please. This is another of those aggregators that makes its money off the backs of everyone else. That arrogance always rubbed me the wrong way.

    Reply
    1. Nate Hoffelder23 July, 2015

      Yes, but that describes most RSS feed reader apps. If you offer a full feed from yuor blog then it’s not reasonable to complain about Flipboard.

      I do wish they would share more info, though.

      Reply
  2. […] and feed aggregator Flipboard now has 70 million MAU and just raised $50 million in funding to “expand our engineering and sales teams as well as increase investment in infrastructure […]

    Reply

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