Funding

Go Read This | Digital Publishing Startup Wattpad Raises $17.3M Series B For Social Reading | Betabeat

I’m intrigued by this. I’ll be very interested to see how Wattpad develops:

And one Union Square Ventures-backed, Toronto-based upstart, Wattpad, just raised a $17.3 million Series B.

USV joined this latest round, which was led by Khosla Ventures. Other participants include Yahoo cofounder Jerry Yang and Toronto’s Golden Venture Partners. The company will use the money for hiring, new features, and community growth.

Wattpad is both publishing platform and social network. It’s a kissing cousin to Amazon’s self-publishing platform, but the concept will feel most familiar to anyone who spent time on early platforms like fanfiction.net–complete with concerns about copyright, by the way, though the company has introduced piracy-fighting features. The modern twist: Over 70 percent of the site’s traffic comes from mobile devices.

via Digital Publishing Startup Wattpad Raises $17.3M Series B For Social Reading | Betabeat.

Go Read This | Will Independent Bookstores Seize the Day? « INVERSO

Intrigued by this article:

Even if a substantial majority, say sixty percent, of the supply gap is captured by Amazon, B&N, or by a conversion to digital reading, there remain tens, if not hundreds of millions of dollars of annual book sales up for grabs in towns like Southbury scattered across the United States. Our own ongoing consumer research, conducted by Verso Digital, provides additional reason for optimism. The data consistently point to a hybrid print and e-book market that will persist for decades. E-reader owners who classify as avid readers ten or more books bought per year are splitting their purchases between print and e-books in nearly identical numbers. Moreover, there is a sizable majority of readers, over 70%, who express strong resistance to the idea of screen-reading as a substitute for print, a percentage that has remained steady across multiple surveys over the past two years. The resistance is strongest among older 45-plus readers, who already account for more than two-thirds of the consumer books purchased in this country. As these readers downshift into retirement or more flexible work-leisure lifestyles, their proportion of the book market is likely to increase, further making the case for print’s durability.

via Will Independent Bookstores Seize the Day? « INVERSO.

Go Read This | France pioneers ‘crowdfunded’ publishing | Books | guardian.co.uk

Fascinating idea. Reminds me of the Hol Art Books Team Publishing way of publishing, though Hol Art contributors take a much more active role:

The publishers are now looking for co-editors to help fund publication of the books. Each co-editor must invest €11 in their chosen title, and will then be able to discuss the book with its author on Éditions du Public’s forum, following each stage as it is written. Each title has six months to sign up 2,000 co-editors and some are already proving more popular than others: Tavignot’s thriller has 45 subscribers, while Hammer has just two.

via France pioneers ‘crowdfunded’ publishing | Books | guardian.co.uk.