The firm had transferred Alipay, an online-payments business, to a company owned by Jack Ma, Alibaba’s boss—according to Yahoo! without clearing the move with the board.

Flipboard's investors include American heartthrob Ashton Kutcher and Twitter co-founder Jack Dorsey - who have both written on the company's 'Flip fans' white board.

Jack is going to summarize his proposal for the move to Costa Rica and hopes to get a final recommendation on the outsourcing project to present to the Board.