Document Sharing Site Scribd Gets $9 Million Second Round; Hires Former Bebo COO

This story was written by Rafat Ali.
Scribd, the document uploading and sharing service which doesn't yet seems to have found a way to get any major revenues, has found some more money: it has received $9 million in second round funding led by Charles River Ventures, along with money from previous investors Redpoint Ventures and Kinsey Hills Group. Scribd says it is among the largest it its category (which has sites like Docstoc) and has 50 million readers each month and more than 50K new documents uploaded daily. It has been trying to license its platform to other publishes, one way it plans to develop revenue; also, the obligatory Google (NSDQ: GOOG) Adsense revenues.

The company also hired George Consagra, most recently COO of AOL-owned Bebo, as President. He will oversee the expansion of Scribd's business operations, including biz dev, sales, finance and marketing.


By Rafat Ali
  • CBSNews

Comments

Watch CBSN Live

Watch CBS News anytime, anywhere with the new 24/7 digital news network. Stream CBSN live or on demand for FREE on your TV, computer, tablet, or smartphone.

Watch Now