E-Book Community Site Raises $17.3 Million in Funding

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E-book community site Wattpad has raised a $17.3 million round of funding, reports All Things D.

The site gives readers access to its five million “unpublished” stories and has served as a launch-pad for some as-yet unknown authors. According to All Things D, one author has had her book read now 20 million times and some authors are signing big publishing deals after being discovered on the site.

The Toronto-based start-up has 15 employees currently and raised the round because of the unanticipated success of the site.

Read more at All Things D.

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