Book Publishing Is About To Change – Redalpine Leads $3.9 Mio Investment In Inkittby Company Announcement September 27, 2017
Not Fintech but very interesting for publishing future fintech book bestsellers.
Inkitt is the world’s first reader-powered book publisher by analysing reader behaviour with sophisticated algorithms in order to predict future bestsellers.
The Berlin-based company offers an online platform where authors can post their manuscripts and readers can read them for free for a limited amount of time. Authors with well-performing books are offered a publishing deal. When Inkitt identifies a potential best-seller, the book is marketed pre-launch by Inkitt’s in-house team and then published, along with full marketing support to ensure the maximum chance of success.
To date, Inkitt has 43,000 writers and over a million readers on their platform. The team around serial entrepreneur Ali Albazaz has published 24 books, of which 22 have become Amazon bestsellers.
Founder and CEO at Inkitt, Ali Albazaz, commented:
“When we started Inkitt we wanted to give every author an equal opportunity to succeed whether they be a 15-year-old schoolgirl or a retired policeman. Inkitt is about author equality not about what you have done before or the network you have. Three years later we are proving that our approach works. We are able to predict bestsellers with incredible accuracy. What we are doing is democratizing publishing by taking out subjectivity and luck.”
Inkitt has raised $3.9 million in pre-series A funding. The round is led by Redalpine with Frontline Ventures, Speedinvest and a number of private investors also participating. The investment will be used to further scale Inkitt’s publishing platform globally.
information appeared first on the Redalpine Blog