October 24, 2021

Scribd Announces $58 Million Strategic Investment Led by Spectrum Equity

From TechCrunch:

Scribd has raised $58 million in new funding led by growth firm Spectrum Equity.

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Scribd  previously raised a total of $47.8 million in funding, according to Crunchbase, most recently in a Series D that was announced nearly five years ago.

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From Variety:

Scribd launched in 2007 as a hosting service for digital documents, and has since evolved into a subscription service for e-books, audio books and magazines. The company announced in early 2019 that it had surpassed 1 million subscribers. Its website attracts some 100 million visitors a month, and readers have spent a total of over 190 million hours reading on the platform, the company said Monday.

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From the Scribd News Release

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.

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About Gary Price

Gary Price (gprice@mediasourceinc.com) is a librarian, writer, consultant, and frequent conference speaker based in the Washington D.C. metro area. Before launching INFOdocket, Price and Shirl Kennedy were the founders and senior editors at ResourceShelf and DocuTicker for 10 years. From 2006-2009 he was Director of Online Information Services at Ask.com, and is currently a contributing editor at Search Engine Land.

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