As authors and publishers alike experiment with the sweet spot for ebook prices, promotional pricing can serve as a useful tool in driving book discovery. But with so many inexpensive ebooks in the retail space, it can still be difficult to foster book and author discovery. BookBub, a book discovery engine that makes its three million-plus members aware of the best ebook deals each day, helps increase discovery by targeting users’ interests and pointing them to daily deals.
BookBub announced its recent fundraising partnership that helped secure nearly four million dollars in revenue for the site, the first type of funding initiative since the company’s launch in 2012. This venture will enable its membership to add to its current state of purchasing nearly one million ebooks every month due to the information the site provides.
“BookBub’s traction proves it’s filling a huge need for readers, authors, and publishers,” said David Beisel, partner at NextView Ventures, in a press release on the deal. “We meet with countless startups, but it’s uncommon to find one that has become such a meaningful part of an industry so early in its existence.”
But what does a book discovery site need with that much revenue? BookBub plans to use the funding to grow its team, to expand its reach and services into international markets, and finally to offer even more powerful tools to its member readers and authors.
“Since starting BookBub, our dual goals have always been to help readers discover great books and to provide publishers and authors an effective way to get their books discovered,” said Josh Schanker, BookBub’s president and co-founder. “A daily email featuring deals on ebooks is part of that mission, but we believe it’s just the beginning for BookBub, so we’ve raised money to widen our scope.”