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Venture capital-backed Flipboard raises $50m round

24 Sep 2013

dollar 20_sqRizvi Traverse Management and Goldman Sachs have led a $50m round for digital magazine Flipboard.

The round valued the publication at $800m, said AllThingsD, citing sources close to the situation.

Existing backers Kleiner Perkins Caufield & Byers and Index Ventures also participated in the round, while Insight Venture Partners is taking a larger stake in the business, said the sources.

The round follows a $50m investment in 2011, which valued Flipboard at $200m.

Earlier this month, a motion filed by Kleiner Perkins to move a sexual harassment lawsuit filed by its former partner Ellen Pao to arbitration was denied by a judge. The case will be returned to San Francisco Superior Court.

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