Social reader Flipboard has raised $50 million in new funding, pegging its estimated valuation at $800 million -- four times the amount two years ago -- according to a report.
AllThingsD reports the funding round was led by Rizvi Traverse Management and Goldman Sachs. Rivzi, which is run by Suhail Rivzi, also has investments in Twitter, Facebook and Square.
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Reps from Flipboard could not be reached for comment.
Founded in 2010 by Mike McCue (pictured), Flipboard now has 85 million registered users. The app, which simulates the experience of a glossy magazine via aggregated news and social media sources, had been tablet and smartphone-only until this July when it added a browser-based version as well.
In addition to the browser functionality, Flipboard also let users create their own magazines on the platform beginning this summer. So far, some 1 million magazines have been created, according to the company.
Despite its popularity, Flipboard is not without competition. Rivals include Zite, Circa and Google Currents, among others.