Flipboard Has Filed To Raise Another $50M
Summary
Backers in its Series C included Rizvi Traverse Management, GGV Capital, Goldman Sachs, Index Ventures, Insight Venture Partners, Kleiner Perkins Caufield & Byers in its Series C. Prior to that, other investors in the company included Ashton Kutcher, Comcast Interactive Capital, Dustin Moskovitz, Peter Chernin, Jack Dorsey, Peter Currie, Quincy Smith and SV Angel. More generally, there are question marks over how to develop any news discovery product to make it appealing to the mass market — something which Flipboard would likely need to do to fuel an ad-based model. Or if it eschews scale, what’s the best route to develop a revenue-generating business based around a news junkie audience and Flipboard’s loyal users? Considering that Flipboard has 70 million monthly active users, with a good amount of those coming after it launched on the web, it points to at least some challenges that the company has in getting people to use the product regularly on the platform for which it was originally intended. One work in progress, under the provisional name of Pipes, would involve making it easier to feed and update content in Flipboard magazines using RSS.
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