In the evolving world of publishing, innovation is key to staying relevant and engaging. A new wave of startups is transforming how books are published and how authors connect with readers. In this blog, we spotlight five young startups that are leading the charge in book publication and authorship innovation.
1. Reedsy
Reedsy is a marketplace that connects authors with top-notch freelance professionals in the publishing industry. From editors and designers to marketers, Reedsy provides authors with the tools they need to create high-quality books.
Model:
Reedsy operates on a commission-based model, earning a percentage of transactions between authors and freelancers. Additionally, it offers premium services like book formatting and marketing packages.
Website:
https://reedsy.com
Founders:
Emmanuel Nataf, Ricardo Fayet, Vincent Durand, Matt Cobb
Year Founded:
2014
Reedsy has grown significantly, with thousands of authors and freelancers using the platform. It has facilitated the creation of countless bestselling books and continues to expand its services globally. Reedsy runs a popular writing contest, the Reedsy Short Story Contest, which attracts submissions from writers all over the world, offering them a chance to get published.
2. Inkitt
Inkitt is a data-driven platform that discovers hidden writing talent. By analyzing reader behavior, Inkitt identifies potential bestsellers and helps authors get published traditionally or through its own publishing house, Galatea.
Model:
Inkitt uses a freemium model. Authors can publish their work for free, and Inkitt analyzes the data to decide which books to invest in. It then publishes these books and shares the royalties with the authors.
Website:
https://www.inkitt.com
Founder:
Ali Albazaz
Year Founded:
2013
Inkitt has raised over $20 million in funding and boasts a community of over a million readers and writers. Its Galatea app has become a popular platform for immersive storytelling. Inkitt uses artificial intelligence to predict the next bestselling book, analyzing reading patterns to determine which stories have the potential to become hits.
3. Wattpad
Wattpad is a global multiplatform entertainment company for original stories. It allows users to read and write stories, connecting a community of readers and writers worldwide.
Model:
Wattpad operates on a freemium model with advertisements and offers premium subscriptions that remove ads and provide additional features. It also monetizes through Wattpad Books, its publishing arm, and Wattpad Studios, which adapts stories for TV and film.
Website:
https://www.wattpad.com
Founders:
Allen Lau, Ivan Yuen
Year Founded:
2006
Wattpad has grown to over 90 million monthly users and has been instrumental in launching the careers of several successful authors. It was acquired by Naver, the South Korean internet conglomerate, for $600 million in 2021. The Wattpad community played a crucial role in the success of Anna Todd’s “After” series, which started on Wattpad and became a global bestseller and a major motion picture.
Read the author interviews here!
4. Scribe Media
Scribe Media helps professionals and entrepreneurs write, publish, and market their books. It offers comprehensive services from ghostwriting to publishing, making it easier for busy professionals to become published authors.
Model:
Scribe Media charges a fee for its services, including ghostwriting, publishing, and marketing. It offers different packages tailored to the needs of each author.
Website:
https://scribemedia.com
Founders:
Tucker Max, Zach Obront
Year Founded:
2014
Scribe Media has helped over 1,500 authors publish their books, including notable names like David Goggins and Tiffany Haddish. The company has been recognized on the Inc. 5000 list of fastest-growing companies. Scribe Media’s co-founder, Tucker Max, is a New York Times bestselling author who has sold over 3 million copies of his books, bringing unique insight into the publishing process.
5. Unbound
Unbound is a crowdfunding platform for books. It allows authors to pitch their book ideas directly to readers, who can then pledge to support the projects they believe in. Once a book reaches its funding goal, Unbound publishes it.
Model:
Unbound operates on a crowdfunding model, taking a percentage of the funds raised for each book. It also shares royalties with authors post-publication.
Website:
https://unbound.com
Founders:
Dan Kieran, John Mitchinson, Justin Pollard
Year Founded:
2011
Unbound has successfully funded and published hundreds of books, creating a unique space where authors and readers collaborate. It has won several awards for innovation in publishing. Unbound’s most famous success story is “The Good Immigrant,” a collection of essays on race and immigration, which was funded in three days and went on to win the Books Are My Bag Readers’ Choice Award.
These startups are redefining the book publishing industry with their innovative approaches, making it easier for authors to get published and connect with their readers. By leveraging technology, community engagement, and unique Models, they are setting new standards for what it means to be an author in the digital age.
