Berlin-based Inkitt announced another big round of funding, raising $59 million in a Series B (on top of previous rounds that raised at least $21 million). Axel Springer was a co-lead in the new round, with Michael Lynton participating, along with further funding from Stefan von Holtzbrinck (HV Holtzbrinck Ventures participated earlier) among others. The […]
Financing/Start-Ups
Funding: BookClub Raises Again
After announcing $6 million in seed funding last September, BookClub has now raised a $20 million Series A financing. The round was led by Signal Peak Ventures — which was joined by GSV Ventures, Maveron, Backstage Capital and Pelion Venture Partner, along with MasterClass co-founded Aaron Rasmussen and Goodreads co-founder Otis Chandler. The service has […]
People, Etc.
At Harper Children’s, Audrey Diestelkamp has been promoted to director, marketing; Robert Imfeld to associate director; Sabrina Abballe to senior manager; and Michael D’Angelo to assistant manager. At Phaidon, vice president, group publisher, Deb Aaronson will now manage the entire editorial group, overseeing commissioning in all of Phaidon’s publishing categories, including art, architecture, cookery, design, general […]
Scribd Raises $58 Million, As Some of Those Unauthorized Snapshots Have Been Removed
Subscription service Scribd announced raising $58 million in equity financing from Spectrum Equity. They say the funds will be used “to continue to operate sustainably and efficiently while accelerating our growth, product innovations, content acquisition and continued investment in our employees.” Despite the raise, Scribd has said that it has been profitable since 2016 — […]
Inkitt Raises $16 Million in New Funding
Berlin-based Inkitt announced a $16 million Series A funding round, led by Kleiner Perkins but including participation from HV Holtzbrinck Ventures. (The company previously raised $5 million.) The new capital will help fund their expansion, which includes plans to add 10 languages in addition to English. With more funding comes ever-greater hype: Founder and ceo […]
Briefs: Bloomsbury In Line with Expectations, Atavist Was Sold
Bloomsbury issued a brief trading update on the first four months of their fiscal year, through June 30, still “in line with its expectations” for the year. Sales were up 3.7 percent with the recently-acquired IB Tauris — and 2.1 percent without two months of Tauris’s sales. The company said they had “a particularly strong […]