PALO ALTO — Silicon Valley attorneys from Fenwick & West and O’Melveny & Myers worked out the latest financing round for social magazine company Flipboard Inc.

The $50 million Series C round, led by boutique firm Rizvi Traverse Management, valued the Palo Alto-based company at $800 million, according to AllThingsD. Goldman Sachs, Insight Venture Partners, Index Ventures and Kleiner Perkins Caufield & Byers also provided financing. Rizvi Traverse was advised by O’Melveny & Myers.