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@gmail.com) is a librarian, writer, consultant, and frequent conference speaker based in the Washington D.C. metro area. He earned his MLIS degree from Wayne State University in Detroit. Price has won several awards including the SLA Innovations in Technology Award and Alumnus of the Year from the Wayne St. University Library and Information Science Program. From 2006-2009 he was Director of Online Information Services at Ask.com.
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