From Your Hidden Potential comes this interview with the founder of Publification, which is currently based in the UK:
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What is your product status today and how long have you been working on it?
Publification is now 1 year old. We have a fully functional cloud based eBook editor and cloud based eBook reader. You can see the platform here: www.Publification.com
Here is an eBook created on our platform so that you can see the features in action: http://goo.gl/gKSsICould you describe current progress or traction including customers, user metrics, revenue, monthly growth rate or any other indicators of your progress?
We have seen viral rates for our beta authors in the range of 191% to 427% meaning that reader recommendations brought 2 to 4 extra readers to the platform – showing how effective the social referral and discovery mechanism is in creating viral loops. Alan Moore’s No Straight Lines got +6000 readers were captured without any advertising or marketing beyond the tools in the platform.
We are finalizing negotiations with a strategic partner from the US whereby over 8,200 authors from their platform would use Publification as their distribution and promotion platform.
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Have you raised any money so far?
We have received £15,000 from Springboard UK and £100,000 from Northstar Ventures
We are in the process of raising a round of financing to fund our operations for approximately 9 months, to prove that we have a repeatable and scalable business model. Based on the growth and engagement metrics of this round, we will raise a full A round to fully scale the platform.
What has been the biggest surprise thus far in working on your company?
How slow and difficult the technical and business model revolution is for traditional publishers. One publisher recently said at a publishing “innovation” conference – “we have to find a way to bring the youth back to reading paperbacks”
