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Storytelling app Wattpad raises $51M at a $398M valuation

Storytelling app Wattpad raises $51M at a $398M valuation

Storytelling app Wattpad raises $51M at a $398M valuation

“Content, as they say, is king — but these days, that may be true only for as long as you can figure out a good business model to deliver it. And today, a startup based out of Toronto, Canada is re-upping its coffers to fill out its ambition to do just that.

Wattpad, a storytelling and reading/viewing app that combines crowdsourced content with professionally produced material, has picked up another $51 million (C$61.25 million) in venture funding — money that it plans to use to invest in its tech (such as the machine learning that helps match its creators with consumers, and which identifies stories that are ‘trending’ and worth revisiting for more creative writing and video shooting around them as themes); and in its expansion into more formats.”

Stephen

 

Posted on: January 19, 2018, 1:02 pm Category: Uncategorized

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