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December 17, 2018

Scribd Raises $22 Million Funding Round to Expand its Book Subscription Service

SAN FRANCISCO, Jan. 5, 2015 /PRNewswire/ — Scribd, the leading subscription book service, today announced that it has closed a $22 million financing led by Khosla Ventures with reinvestment from existing backers including Redpoint Ventures, Charles River Ventures and Silicon Valley Bank. Seasoned entrepreneur Keith Rabois will join Scribd’s board as a board observer.  This brings Scribd’s total funding to date up to $48M.

“We had a fantastic 2014 at Scribd. We launched audiobooks with 30,000 titles from publishers like Blackstone and Scholastic. We also doubled our e-Book titles, adding content from 1,000+ publishers – including Big 5 publishers Harper Collins and Simon & Schuster – along with industry leaders like Harlequin, Houghton Mifflin, Lonely Planet, Perseus and Wiley,” said Trip Adler, co-founder and CEO of Scribd. “This new funding round will enable us to work towards achieving our goal of creating the most comprehensive library of the future for our millions of users around the world.”

Scribd, which launched in 2007, now has more than 80M monthly readers accessing their books and documents worldwide. The new capital resources raised will be used to reinvest in the business to further accelerate hiring, content acquisition efforts and international expansion. Since the launch of the company’s subscription book service in October 2013, the subscriber base has grown an average of 31% per month. Scribd readers have spent more than 17M hours reading half a million premium e-books and have logged 180,000 listening hours in the first 60 days since launching its audiobooks service. 

“The subscription model has already transformed the way we consume content like film and music, and Scribd is doing the same with books,” said Rabois, partner at Khosla Ventures. “I look forward to working with the Scribd team to scale their product to a massive global audience.”

Over the past year, Scribd has seen a steady increase in subscribers each month, consistently landing the company in the top-5 reading apps in both the Apple App Store and Google Play. Scribd is available on iOS, Android, Kindle Fire, Nook tablets and the web.

About Scribd
Scribd is the premier subscription book service with more than half a million e-books and 30K audiobooks, including New York Times bestsellers, Pulitzer Prize winners and reader favorites across every genre. Launched in 2007 by founders Trip Adler and Jared Friedman and backed by Y Combinator, Charles River Ventures, Redpoint Ventures and Khosla Ventures, Scribd is one of the most influential websites in the world. It is available in nearly every country, featuring 62MM documents in +80 languages.

For more information, please visit www.scribd.com.

Press Contact
Lyndsey Besser
Lyndsey@scribd.com
415-488-5969

 

To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/scribd-raises-22-million-funding-round-to-expand-its-book-subscription-service-300015481.html

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Scribd Raises $22 Million Funding Round to Expand its Book Subscription Service

Scribd Adds 30,000 Audiobooks To Its Library, Creating The Largest Unlimited Book Offering From World's Top Publishers

SAN FRANCISCO, Nov. 6, 2014 /PRNewswire/ — Scribd, the leading subscription book service, today announced that it is broadening its offering to give subscribers access to more than 30,000 audiobooks. Titles will include new releases, as well as smash hits and award winners like The Hunger Games trilogy, The Savage Detectives by Roberto Bolano, and Daring Greatly by Brene Brown, all for Scribd’s current price of $8.99 per month. The addition of this extensive audiobooks selection, which includes titles from Blackstone, HarperCollins, Naxos and Scholastic, to Scribd’s existing library of more than half a million e-books represents the largest unlimited-access offering of e-books and audiobooks available today.

Unlimited Audiobooks on Scribd

“We’ve always envisioned Scribd as a home for the best writing and storytelling in the world,” said Trip Adler, co-founder and CEO of Scribd. “Audiobooks are more than a $1B a year industry and a natural extension of Scribd’s existing content offering. This has been one of our most popular requests and we’re excited to reach book lovers wherever they are and however they choose to read – or listen.”

“We are thrilled to work with Scribd on an audiobook offering,” said Chantal Restivo-Alessi, Chief Digital Officer, HarperCollins Publishers. “Audio is a growing category and one that needs additional distribution channels. By making our audiobooks available through Scribd, we’re opening up a much wider market for our authors’ works.” 

Listeners can browse special audio-only collections curated by Scribd’s editorial staff, including collections arranged by length, narrator, and subject, from “Shakespearean Actors Reading Shakespeare” to “Roadtrip Listening: SF to LA,” to “What to Listen to on the Way to a Job Interview.”

  • Hotly anticipated new releases – How to Build a Girl by Caitlin Moran, Bad Feminist by Roxane Gay, The Days of Anna Madrigal by Armistead Maupin, and more.
  • Acclaimed actors reading beloved fiction – Rosamund Pike reads The Spy Who Loved Me, Barbara Rosenblat reads Up the Down Staircase, and more.
  • Landmark works by contemporary authors – Hardboiled Wonderland and the End of the World by Haruki Murakami, No Country for Old Men by Cormac McCarthy, Bel Canto by Ann Patchett, The Savage Detectives by Roberto Bolano, The Game by A.S. Byatt, Europe Central by William T. Vollmann, Mothers and Sons by Colm Toibin, Shadow Country by Peter Matthiessen, Lovers at the Chameleon Club by Francine Prose, and more.
  • Beloved actors reading children’s classics – James Earl Jones reads Who’s In Rabbit’s House?, Paul Giamatti reads The True Story of the Three Little Pigs, Meryl Streep reads Chrysanthemum, Sarah Jessica Parker reads Owen, and more.
  • Star-studded full-cast recordings of classics – Contemporary actors including Damien Lewis & Joseph Fiennes appear in full-cast recordings of Shakespeare; Forest Whitaker, Eartha Kitt, Angela Bassett, and Denzel Washington appear in full-cast recordings of the Bible, and more.
  • Golden Age Radio Dramas – Science fiction classics such as the Bradbury Thirteen and The Twilight Zone recall the Golden Age of radio dramas with full cast recordings, soundtracks, and sound effects.
  • Self-Improvement titles by world-renowned authors – The Power of Now by Eckhart Tolle, Daring Greatly by Brene Brown, The Architecture of Happiness by Alain de Botton, and more.
  • Novels that inspired blockbuster films – Recordings of the novels that inspired blockbuster films, such as Silver Linings Playbook by Matthew Quick, Catch Me If You Can by Frank W. Abagnale, The Hunger Games by Suzanne Collins, The Graduate by Charles Webb, and more.
  • Beloved narrators – Audiophiles’ favorite narrators such as Jim Dale, Simon Vance, Katherine Kellgren, and more.
  • Critically acclaimed and award-winning recordings – Grammy & Audie Award Winners, ALSC Notable Children’s Recordings, Publishers Weekly Listen-Up Award Winners, and more.
  • Titles from the world’s leading audiobooks publishers – Blackstone, HarperCollins, Naxos, Scholastic, and more.

Scribd is partnering with Findaway World, a leading provider of digital audiobooks and technology solutions, to power its audiobook offering. Findaway World’s AudioEngine platform enables access to the catalog of more than 30,000 unlimited subscription audiobooks to Scribd users worldwide. Audiobooks are available now to subscribers on Android, Kindle Fire, Nook tablets, and web enabled browsers. Audiobooks will be available to iOS users in the coming days.

About Scribd

Scribd is the premier subscription book service with more than half a million e-books and audiobooks, including New York Times bestsellers, Pulitzer Prize winners, and reader favorites across every genre. Available in nearly every country and 80 languages via iOS, Android, Kindle Fire, Nook tablets and the web, Scribd also features more than 60 million written works contributed by users around the world. Launched in 2007 by Trip Adler and Jared Friedman and backed by Y Combinator, Charles River Ventures, and Redpoint Ventures, Scribd is one of the most influential websites in the world, reaching more than 80 million active readers every month.

For more information, please visit www.scribd.com.

Press Contact
Lyndsey Besser
Lyndsey@scribd.com
415-488-5969

Photo – http://photos.prnewswire.com/prnh/20141106/156938

Originally posted here:

Scribd Adds 30,000 Audiobooks To Its Library, Creating The Largest Unlimited Book Offering From World's Top Publishers