![]() ![]() He founded and successfully exited two venture-backed startup companies before WEbook. WEbook was founded by author and entrepreneur Itai Kohavi. Perhaps the business model is not all that surprising, given the founder is a writer himself. WEbook shares 50 percent of the profits with the creators of the books,” said Thakur. “For members, it provides an opportunity to reach reviewers and possibility to bypass the traditional form of publication where the odds of unknown talent getting published are 15,000 to 1. “Their unique model provides an opportunity to explore multiple revenue streams that range from publication, premium subscription fees and advertising,” said Thakur. With a target of reaching 1 million hands, said Thakur, WEbook “seems to emerge as a fruitful business concept with high growth rate in the future. ![]() WEbook has more than 1,500 book projects, thousands of authors and editors, thousands of reviewers, and a platform to bring them together. That may be one of the core reasons traditional publishing is failing and next-generation publishers, like WEbook, will prevail, Thakur suggests. So, what got investors interested in a company hailing from a dying industry? “The potential seems immense, since the model is a collaboration of successful niche social networking business and a platform for aspiring writers,” says Thakur.Īspiring writers? You mean the very writers legions of agents and traditional publishers won’t touch because of the time-honored theory that only writers with brands, fans and platforms sell? From bookstores to newspaper stands, the publishing industry has the distinct smell of decay. That in itself is remarkable, as the publishing industry is grounded in the very roots of civilization and has tried everything from aggregated content and citizen journalists to a smattering of eBooks - all to little or no avail. Itai Kohavi does not face any direct competition in the marketplace,” according to Thakur. publishing market, yet “the innovative model founded by Mr. WEbook is targeting the US$50 billion U.S. Putting the power to both create and choose published content into the hands of our users is nothing less than revolutionary.” “We believe there are millions of talented writers whose work is ignored by the staid and exclusive world of book publishing. “We hope to do for publishing what ‘American Idol’ did for music,” Sue Heilbronner, president of WEbook, told the E-Commerce Times. The difference is that it publishes community-sourced content. So if being flush in venture capital funding isn’t the benchmark or the bookmark, what makes WEbook a startup to watch? If the dot-com burst and the more recent Wall Street fiasco have taught us anything, it is that investor confidence is not necessarily a harbinger of success. “Claiming itself to be a next-generation publisher, WEbook has successfully roped in venture capitalists to invest in their business,” Deepak Thakur, senior research analyst in ICT Practice at Frost & Sullivan, told the E-Commerce Times. ![]()
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