• Skip to main content
  • Skip to secondary menu
  • Skip to footer

Venture Capital Matters

#VentureCapital: VC meets social media

  • Pitch a Startup
  • Market Reports
  • Technologies
    • Technology Events
  • Domain Names for Startups
  • About
  • Contact

Scribd Announces $58 Million Strategic Investment

November 25, 2019 By 3v.org Leave a Comment

Scribd launched in 2007 and introduced the world’s first reading subscription service in 2013. Today more than 100 million unique visitors come to Scribd every month and readers have spent a total of over 190 million hours reading on the platform. Today Scribd, the unlimited reading subscription service that offers access to the best ebooks, audiobooks, documents and more, has raised $58 million in equity financing led by Spectrum Equity. The investment will be used to support growth and product innovation, enhance operations, and further the company’s mission to change the way the world reads.

“As a differentiated content library, including robust user-generated content and ebooks and audiobooks from top tier publishers, Scribd is poised to be the leading online subscription reading service for consumers across the globe. Spectrum has been fortunate to be a part of successfully scaling several digital content businesses, and we look forward to partnering with Trip and the entire management team to help make Scribd a part of readers’ everyday lives.”, says Pete Jensen, Managing Director of Spectrum Equity.

Trip Adler, Scribd’s Founder and Chief Executive Officer, said “We’re excited to partner with Spectrum Equity, a firm with deep expertise in high growth subscription businesses, as we prepare for the future. By partnering with the world’s best publishers of all types of content, Scribd has introduced a first-of-its-kind experience for readers, while unlocking a new revenue stream for the publishing community. This funding will enable us to continue to operate sustainably and efficiently while accelerating our growth, product innovations, content acquisition and continued investment in our employees.”

Over the past two years, Scribd has achieved major milestones including surpassing over one million paying subscribers, introducing localized experiences for international markets, and nearly doubling its employee base. It has expanded its footprint with offices in San Francisco (HQ), New York, Phoenix, Toronto, and Amsterdam. To prepare for future growth and innovation, Scribd bolstered its executive team with the hires of Jared Fliesler (Google, Square, Slide) as Chief Operating Officer in 2018 and Tony Grimmick (HotelTonight, StubHub) as Chief Financial Officer in 2019.

SOURCE: Scribd
https://www.scribd.com

Related

Filed Under: PR Tagged With: Pete Jensen, Scribd, Spectrum Equity, Trip Adler

Reader Interactions

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Footer

Recent Posts

  • FreshCut Secures $15M Funding to Accelerate Transformation of Web3 Gaming Content Ecosystem
  • Thought Machine Raises $160m in Series D Funding Round – Doubling Valuation to $2.7bn and Accelerating Plans to Bring World’s Banks Onto Cloud Technology
  • Foundational Skills Checklist
  • LucidLink Raises $20 Million in Series B to Solve Remote Collaboration Challenges for Global Creative Teams
  • Storyblok Raises $47M Series B Led by Mubadala Capital and HV Capital to Make Headless Content Management the New Standard
  • A bridge between Web2 and Web3
  • Fresh Technology Inc. Closes $7 Million Series A to Drive Innovation in Modern Restaurant Kitchens
  • SoftBank will be cutting its startup investments by 50-75% through March 2023
  • Paddle, which provides a billing backend for SaaS companies, raises a $200M Series D
  • RGo Robotics Exits Stealth Mode with $20M in Funding & Major Customer Wins

Media Partners

  • VPNW
  • S3H
  • OPINT
  • Press Media Release
  • OSINT
  • Digital Market
  • Briefly

Media Partners

  • Technology Conferences
  • Event Sharing Network
  • Defense Conferences
  • Cybersecurity Events
  • Event Calendar
  • Calendarial
  • Opinion
  • Venture Capital

Copyright © 2018 3V.org

Technologies, Market Analysis & Market Research Reports

We use cookies on our website to give you the most relevant experience by remembering your preferences and repeat visits. By clicking “Accept”, you consent to the use of ALL the cookies.
Do not sell my personal information.
Cookie SettingsAccept
Manage consent

Privacy Overview

This website uses cookies to improve your experience while you navigate through the website. Out of these, the cookies that are categorized as necessary are stored on your browser as they are essential for the working of basic functionalities of the website. We also use third-party cookies that help us analyze and understand how you use this website. These cookies will be stored in your browser only with your consent. You also have the option to opt-out of these cookies. But opting out of some of these cookies may affect your browsing experience.
Necessary
Always Enabled
Necessary cookies are absolutely essential for the website to function properly. These cookies ensure basic functionalities and security features of the website, anonymously.
CookieDurationDescription
cookielawinfo-checkbox-analytics11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Analytics".
cookielawinfo-checkbox-functional11 monthsThe cookie is set by GDPR cookie consent to record the user consent for the cookies in the category "Functional".
cookielawinfo-checkbox-necessary11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookies is used to store the user consent for the cookies in the category "Necessary".
cookielawinfo-checkbox-others11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Other.
cookielawinfo-checkbox-performance11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Performance".
viewed_cookie_policy11 monthsThe cookie is set by the GDPR Cookie Consent plugin and is used to store whether or not user has consented to the use of cookies. It does not store any personal data.
Functional
Functional cookies help to perform certain functionalities like sharing the content of the website on social media platforms, collect feedbacks, and other third-party features.
Performance
Performance cookies are used to understand and analyze the key performance indexes of the website which helps in delivering a better user experience for the visitors.
Analytics
Analytical cookies are used to understand how visitors interact with the website. These cookies help provide information on metrics the number of visitors, bounce rate, traffic source, etc.
Advertisement
Advertisement cookies are used to provide visitors with relevant ads and marketing campaigns. These cookies track visitors across websites and collect information to provide customized ads.
Others
Other uncategorized cookies are those that are being analyzed and have not been classified into a category as yet.
SAVE & ACCEPT