Storytelling app Wattpad secures $61.2 mln in latest round
Wattpad, a Toronto-based multi-platform entertainment company for original stories, has raised about $61.25 million (US$51 million) in fresh funding. Investors included Tencent Holdings, BDC Capital, Kickstart Ventures, Peterson Group and Raine. Founded in 2006, Wattpad has created a social platform that builds direct connections between readers and writers. Its community now totals more than 65 million people. The company, which has so far secured US$117.8 million in venture capital, will use the latest funds raised to grow its team, invest in machine learning and interactive storytelling, expand its footprint in TV, film, digital media and publishing, and for other innovations.
17 January 2018•4 mins read
