Dear BookBub Partners,
BookBub announced some exciting news this morning — we’ve raised $3.8 million in funding from a great team of investors. You can read about it in today’s Wall Street Journal.
I wanted to reach out to our partners on this important milestone to thank each and every one of you for your support and for helping us get to where we are today.
For the past two years, BookBub has been a bootstrapped startup (meaning that we didn’t have any outside investors) and yet we’ve accomplished a lot. Since our launch in early 2012, we’ve grown our member base to nearly 3 million readers, and have worked with over 3,000 publisher and author partners to help them reach new fans through price promotions.
Our dual goal has always been to help readers discover great books and to provide publishers and authors a way to get their books discovered. In order to best pursue this mission beyond where we are today, we knew that having additional resources would help us significantly.
The funding we’ve announced today will allow us to not only improve our current service, but also to expand what we do. Within the next year, we plan to grow internationally, build additional tools for our author and publisher partners, and test new offerings for our readers that will in turn provide new ways to reach BookBub’s growing audience.
I have a lot of confidence in the investor group we put together, and have known the individuals involved at each fund for at least the past 15 years. We trust in each other, share a vision for the organization, and all want to do what we can to keep BookBub a valuable service for readers and our partners.
Ultimately, our hope is that this financing dramatically expands our ability to help you connect with engaged readers, and get your great works discovered.
I speak for the entire BookBub team when I again say thank you. We couldn’t have gotten here without all of your support, and we look forward to working together for many years to come!
All the best,
Josh Schanker
Co-founder and CEO
