Wattpad, the eBook self-publishing community, has today announced it has secured funding from a consortium of private investors.
Often compared with Google’s YouTube service, Wattpad allows anyone to write and publish eBooks. In October it was announced that one user had secured a print a print deal after her book was read by more than 200,000 users.
The company has recently published statistics breaking down its geographic penetration, these show the UK leads use of the service in Europe. A deal with Indian mobile operator Bharti Airtel late last year further extended the service’s audience, placing it in front of a subscriber base of 110 million.
“Just like YouTube which changed the way we create, watch and share videos, Wattpad is doing the same for books” says Allen Lau, CEO and Co-founder of Wattpad.
“We are very excited to be in the leading position of this ebook revolution. The new investment we received will be used to leverage the company’s rapid growth and expand engineering, marketing and business development efforts.”
