Photo: Robert Scoble
Flipboard, the social magazine app for the iPad, is raising money at a $200 million valuation, AllThingsD’s Kara Swisher reports.During an interview with us earlier this month, McCue told us Flipboard would be raising money, so it’s no surprise.
Flipboard is backed by marquee investors like Kleiner Perkins, and has been critically acclaimed, being named app of the year by Apple. Flipboard takes your Facebook and Twitter feeds and other sources like RSS, and turns them into an easy to use “social magazine” for the iPad.
CEO Mike McCue is a serial entrepreneur whose previous company, TellMe, was acquired by Microsoft for nearly $800 million and was the subject of a Harvard Business School study. He also sits on Twitter’s board.
The company is currently revenue-free, but has interesting plans to make brand ads that work better than regular internet ads, and share revenue with content providers.