General Atlantic pumps $61 mln into Flipp for digital ad circular business

General Atlantic announced it has invested $61 million in Flipp Corporation to fuel growth at the company, which enables consumers to use their smart phones to access digital circulars from more than 800 retailers. GA joins Insight Venture Partners as a minority shareholder in the company. As part of the investment, GA Vice President Zachary Kaplan has joined Flipp’s board of directors. Formerly known as Wishabi, Flipp was founded in 2007 by former Microsoft engineers and previously raised $1 million in seed funding from an unnamed investor in January 2006, according to CrunchBase.

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