Social News Reading App Flipboard Is Reportedly Raising $US50 Million

Social news app Flipboard is in the final stages of raising a $US50 million funding round,
Fortune reports.

This comes just two months after Flipboard raised $US50 million at a reported $US800 million valuation. Though, the round was reportedly always supposed to be $US100 million led by Rizvi Traverse Management for that round.

If and when Flipboard closes this round, it will have raised $US160 million in total.

Just last month, Flipboard announced that it had hit 90 million users.

Business Insider has reached out to Flipboard for comment and will update this story if we hear back.

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