The makers of the iPad social magazine Flipboard are reportedly seeking an investment that would value the company at $US200 million.
According to a new report in the Wall Street Journal, the creators of the social media app are in discussions with various investment companies. The report claims the valuation “is unlikely to go down”.
The app was co-founded by Mike McCue and Evan Doll, and launched last July. The app itself is a type of aggregator that places updates from a user’s social network into a magazine, sourcing pictures and videos to provide a more interactive feel.
The app has a number of angel investors including Facebook co-founder Dustin Moskovitz, and Twitter co-founder Jack Dorsey.
ABOUT THE AUTHOR
Patrick Stafford is a freelance journalist and a former deputy editor of SmartCompany.
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