Scribd Raises $13 Million To Support Mobile Moves, Product Expansion
-
Comments (View)
- Text Size: A A
-
Email
-
Share
Social publishing site Scribd has closed $13 million third round, as it looks toward rolling out new mobile features and additional products around ad sales and its two-year-old book and document store. The round was led by MLC Investments of Australia and SVB Capital, with previous investors, including Redpoint Ventures, Charles River Ventures and Kinsey Hills Group, participating as well.
The latest round brings Scribd to about $25.8 million in total funding raised in the past four years. For the past two years, San Francisco-based Scribd has been expanding its position as a document sharing company to one that has aimed much of its services at major book and magazine publishers as e-readers and tablets have become mainstream products.
SEE ALSO: Scribd Exploring Premium Content Plays; No Plans For A Paywall
In keeping with that evolution, Scribd will use the proceeds from this third round to build up its engineering staff. It also continuing to work on new products, including mobile apps and a variety of consumer paid- and ad-supported offerings.
“2011 is going to be a milestone year for us,” said Scribd CEO and co-founder Trip Adler in a statement. “As the world rapidly changes the way it reads content on the web, we are rapidly preparing to change the way we deliver what they read.”
Posted In: Media & Publishing, Books, e-readers, Mobile, Money, M&A & Venture Capital, Venture Capital, Social Media
Hulu TV
Social Standing
Which media brands are getting a lift from Tweeters and bloggers right now -- and which are getting panned?
Show Me: