Ebook Community Wattpad Raises $17.3M, Claims Higher Engagement Than Pinterest

[debacle]

I posted in another thread, but this one seems to be getting more traction:

What is the draw of the site for authors? I couldn't find anything about that - is it just the readership? Is there an ad platform with profit sharing?

[yumraj]

They do seem to have great traction and customer engagement, both from the number of customers and the time they spent. However, given its all free eBooks, seems more analogous to a blog community, so am curious what their revenue model could be in future? Perhaps selling eBooks and enabling independent publishers, subscription from readers? Is the market big enough. Don't think that ads is going to cut it.

[patio11]

Steve Jobs has decreed that if you own a channel for digital goods distribution you can lease it out for 30% of gross.

[huda]

The market is several billion dollars and ripe for disruption. The revenue model, of course, is the billion dollar question. There are plans in the works, but nothing concrete and on the surface atm.

[jsatok]

Congrats to Allen, Ivan and the team at Wattpad!

[karanwalia]

Congratulations to Allen and the team! These guy's are doing an awesome job, and I must say are an inspiration to start-ups based out of Toronto.

[huda]

Things have been pretty exciting at the HQ! Thanks for all the support :)

[loceng]

Good job Wattpad! Congrats

[astrodust]

Why isn't the company name mentioned in the headline?

[loceng]

Curiosity will have more people clicking

[verelo]

Congrats to Jerry and the team!

[pamodina]

Time to celebrate!