Wattpad is a writing community in which users are able to post articles, stories, fan fiction, and poems about anything either online or through the Wattpad app. The content includes work by undiscovered writers, published writers, new writers, or people just looking for somewhere to write all their ideas down. Users are able to comment and like stories or join groups associated with the website. Around half of the users are U.S. based; other users come from the U.K., Canada, the Philippines, Australia, United Arab Emirates and other countries.
Wattpad originated in 2006, as the result of a collaboration between Allen Lau and Ivan Yuen.
In February 2007, Wattpad announced the addition of over 17,000 eBooks from Project Gutenberg making them available to mobile users.According to a June 2009 Wattpad press release, the mobile application had been downloaded over 5 million times. In March 2009, an iPhone version was released. This was followed by the launch on BlackBerry App World in April 2009, Google Android in June 2009 and Apple iPad in April 2010.
Growth and Funding
To date, Wattpad has received almost $70M in funding from investors. In 2011, Wattpad announced that it received $3.5M in total funding from its current investors, and from W Media Ventures, Golden Venture Partners, and Union Square Ventures, which is an early investor in “Twitter, Tumblr and other social-media success stories.”Then in June 2012, Wattpad raised $17.3M from a group of venture funds led by Khosla Ventures.
The latest round of financing happened in April 2014, where Wattpad announced $46M in Series C funding led by OMERS ventures.
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