The flurry of e-book readers that are descending upon us has prompted investors to take a closer look at companies set to ride the wave.
Wattpad this morning announced that it has secured a round of funding with a number of private investors, although the e-book community operator and mobile app developer declined to disclose the size of the round.
Launched in January 2007, Wattpad is a YouTube-like community that allows its members to read and share e-books on the Web and on mobile devices. According to the company, the site’s catalog boasts ‘hundreds of thousands’ of novels, short stories, fan fiction, essays, jokes and more. Example: Dickens’ A Christmas Carol.
Wattpad says it has delivered hundreds of million of pages from its 120,000 strong e-book library to mobile devices, having developed custom applications for iPhone, Android, BlackBerry and Java alongside a mobile website at m.wattpad.com.