BookBub secures funding to expand internationally
May 1, 2014 | 4:32 pm
BookBub is an e-book recommendation service, sending daily emails to its members with a list of books it thinks they would be interested in based on user interests. BookBub intends to use the money to expand internationally, a spokesperson said.
Investors include NextView Ventures, Founder Collective, Avalon Ventures, and Bloomberg Beta.
According to BookBub, it is close to three million members. E-books from all sorts of publishers are represented in its recommendations from the Big Five to independent authors. Members purchase more than one million ebooks per month because of the service, not including the free e-books downloaded, it said in the release.
“BookBub’s traction proves it’s filling a huge need for readers, authors, and publishers,” said David Beisel, partner at NextView Ventures. “We meet with countless startups, but it’s uncommon to find one that has become such a meaningful part of an industry so early in its existence.”
This is the first external money the company has raised since it launched in 2012. The company states BookBub has been profitable since its launch.
To learn more about BookBub, click here for a previous article on Teleread.