Flipboard Raises $50 Million to Staff Up

Flipboard has raised $50 million in new funding to hire employees in its engineering and sales groups.

The company announced Monday that it has now completed a $100 million Series C funding, bringing its valuation to $800 million. Flipboard raised the previous $50 million in October. Rizvi Traverse Management, the fund run by Suhail Rizvi that also counts Twitter, Facebook and Square among its investments, led the round. The investment was initially reported by AllThingsD.

Eric Feng, CTO of Flipboard and the former founding CTO of Hulu, said the funding would go toward hiring new employees to help the company reach new advertisers and boost revenue. Read more...