Scribd’s Everand has acquired social reading app Fable, for undisclosed terms. Everand and Fable will continue as separate services, though “Fable will benefit from Everand’s resources and the operational stability that comes from being part of Scribd, a privately-held company with over 18 years experience, to further enhance its community-first features as both teams explore thoughtful opportunities to evolve the reading experience together.” Fable founder and ceo Padmasree Warrior will transition to an advisory role. Fable had raised $27.25 million in funding.
