Scribd raises $9 million, hires new president for social publishing
Social publishing firm Scribd is announcing today that it has raised $9 million in a second round of funding and has hired George Consagra, former chief operating officer of Bebo, as its president.
The San Francisco-based company lets people share and publish original writings on its web site. It has more than 50 million readers each month, and more than 50,000 new writings and documents are uploaded daily.
This round of financing was led by Charles River Ventures with re-investment from Redpoint Ventures and Kinsey Hills Group. The company will use the money to increase its hiring and to accelerate product development.
Consagra will oversee the expansion of Scribd’s business operations, including growth, sales, finance and marketing. Consagra helped Bebo grow its membership from 20 million to more than 45 million. AOL bought the company for $850 million earlier this year. Trip Adler, co-founder of Scribd, remains CEO.
Bill Tai of Charles River Ventures will join Geoff Yang of Redpoint Ventures as new outside director. Tammy Nam, who led marketing communications for social applications developer Slide, also recently joined Scribd as vice president for marketing.
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About the Author, Dean Takahashi
Dean is lead writer for GamesBeat at VentureBeat. He covers video games, security, chips and a variety of other subjects. Dean previously worked at the San Jose Mercury News, the Wall Street Journal, the Red Herring, the Los Angeles Times, the Orange County Register and the Dallas Times Herald. He is the author of two books, Opening the Xbox and the Xbox 360 Uncloaked. Follow him on Twitter at @deantak, and follow VentureBeat on Twitter at @venturebeat.