Flipboard took a relatively simple idea (that no one else had already executed on) and built a great free iPad app around it. It takes the links of people you follow in Twitter and Facebook and builds a magazine-looking content around it that is tuned to your interest. It can also bring in RSS feeds from targetted sources (blogs, etc.). Other similar self-curated iPad and Android apps showed up shortly afterwards. So, what is this idea worth? According to All Things Digital, Flipboard received $50 million in funding last month based on a valuation of $200 million.

Exclusive: Flipboard Confirms $50 Million Funding at $200 Million Valuation

That is pretty amazing for an app is going to celebrate its first birthday soon.