Mobile magazine app Flipboard has been valued at $800, it has been revealed.
The valuation comes after $50m was raised from investors including Goldman Sachs and Rizvi Traverse Management.
The app has been downloaded by more than 85m users on a range of Android and iOS devices since it was first launched for iPads in 2010.
It is now so popular that it reports 200,000 new downloads every day and its user base has grown by 50 per cent in the last six months alone.
Flipboard users can search content from different online publications, and link to articles posted on social sharing sites such as Twitter and Facebook.
Co-founder Mike McCue says that around three million magazines have been created on the service and that the platform is expanding through desktop apps and new partnerships.
Via: Independent