By: Dan Primack | CNN Fortune
Social news app Flipboard is in final negotiations to raise $50 million in new venture capital funding, Fortune has learned. This would be an extension to the $50 million that Flipboard scored just two months ago, at a reported $800 million valuation.
My understanding is that the round always was intended to be $100 million total, with Rizvi Traverse Management leading both parts. The split was caused by different timing needs of certain Rizvi investors.