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Wattpad

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Wattpad

Wattpad
Type Private
Headquarters Toronto, Canada
Area served Worldwide
Founder(s) Allen Lau
Ivan Yuen
Owner WP Technology, Inc.[1]
Employees 70
Website .comwattpad
Alexa rank positive decrease 1,799 (August 2014)[2]
Registration Required to create, modify books
Launched November 2006
Current status Active

Wattpad is a writing community in which users are able to post articles, stories, fan fiction, and poems about anything either online or through the Wattpad app. The content includes work by undiscovered and published writers. Users are able to comment and like stories or join groups associated with the website. Around half of the users are U.S. based; other users come from the U.K., Canada, the Philippines, Australia, United Arab Emirates and other countries.[3]

History

Wattpad originated in 2006, as the result of a collaboration between Allen Lau and Ivan Yuen.[4]

In February 2007, Wattpad announced the addition of over 17,000 eBooks from Project Gutenberg making them available to mobile users.[5] According to a June 2009 Wattpad press release, the mobile application had been downloaded over 5 million times.[6] In March 2009, an iPhone version was released. This was followed by the launch on BlackBerry App World in April 2009, Google Android in June 2009 and Apple iPad in April 2010.

Growth and Funding

To date, Wattpad has received almost $70M in funding from investors.[7] In 2011, Wattpad announced that it received $3.5M in total funding from its current investors, and from W Media Ventures, Golden Venture Partners, and Union Square Ventures, which is an early investor in "Twitter, Tumblr and other social-media success stories."[8] Then in June 2012, Wattpad raised $17.3M from a group of venture funds led by Khosla Ventures.[9]

The latest round of financing happened in April 2014, where Wattpad announced $46M in Series C funding led by OMERS ventures.[10]

Awards

In December 2011, Toronto-based Wattpad was selected as the hottest Digital Media company in the country at the Canadian Innovation Exchange.[11] In the same year, co-founder and CTO Ivan Yuen was also recognized as a top Canadian entrepreneur at the Impact Infused Awards, sponsored by Deloitte.[12]

Wattpad in the Philippines

In March 2014, Wattpad signed a contract with Pop Fiction, an imprint of Summit Media, to print Filipino Wattpad stories in the Philippines.[13] Other publishers from the Philippines also publish stories from Wattpad.

Some Wattpad stories have also been adapted into teleseries. For example, TV5 in partnership with Wattpad and Life is Beautiful Publishing Company launched Wattpad Presents, a series of Wattpad stories turned into TV dramas. There has also been ABS-CBN's television adaptation of the Wattpad story "My App Boyfie" by Noreen Capili (noringai), starring James Reid and Nadine Lustre. The latest addition to the long list of Wattpad stories being adapted into television shows is ABSCBN 's coming-of-age series Bagito starring Nash Aguas , Alexa Ilacad and Ella Cruz.

Usage

As of April 2014:

  • 85 percent of its traffic and usage comes from mobile devices[14]
  • the site has 35 million unique visitors per month[14]
  • there are over 1,000 story uploads per day.[15]

New authors and teens

The most frequently voted stories appear on the "What's Hot List". These stats change daily, due to reads and votes by other users. According to the profiles visible on the site, many of these authors are teenagers. Estelle Maskame is among the best and most notable writers on Wattpad with her Did I Mention I Love You.

Wattpad section also has a Featured Story list, which promotes content reviewed and approved by staff and an editorial review board. Many of these featured stories are written by self-published and professional writers from different genres.

Contests

Wattpad holds several smaller contests a year and one major one. The large annual contest is called "The Watty Awards". In 2011, The Watty Awards introduced three entry levels (Popular, On The Rise, and Undiscovered) to allow greater chances of winning for every type of writer. Contests are open to anyone who has a Wattpad account.

During the summer of 2012, Wattpad in collaboration with Margaret Atwood, Canadian poet/novelist/literary critic, held the "Attys"; the first major poetry contest offering a chance to poets on Wattpad to compete against each other in one of two categories, either as an "Enthusiast" or a "Competitor".

Controversies

Early on in its history, some of the large volume of user-uploaded material hosted on Wattpad was copyrighted material created by authors who did not grant republication rights. In May 2009, an article in 'The New York Times' noted, "Sites like Scribd and Wattpad, which invite users to upload documents like college theses and self-published novels, have been the target of industry grumbling in recent weeks, as illegal reproductions of popular titles have turned up on them".[16]

The Wattpad website notes, "We do not welcome upload of material that violate its copyright terms," but also states "it is simply not possible to screen and verify all posted content."[17] In response to industry criticism, in April 2009 (before the publication of the New York Times article that named Wattpad as a vehicle for user-generated ebook piracy) Wattpad announced an "Authors In Charge" program, designed to allow authors or their representatives to identify and directly remove infringing content from the site,[17] but this program is designed specifically for "authors with published books for sale."

References

  1. ^ Wattpad / Home. Wattpad. Retrieved 2013-11-26.
  2. ^ "Wattpad.com Site Info".  
  3. ^ Bello, Grace (2012-12-21). "Wattpad Revolutionizes Online Storytelling". Publishers Weekly. 
  4. ^ Lau, Allen. "How Did Wattpad start?". 
  5. ^ "Wattpad Gutenberg Press Release". 
  6. ^ "Wattpad heralds 3.1m ebook downloads". 
  7. ^ http://venturebeat.com/2014/04/08/social-reading-platform-wattpad-announces-massive-48m-financing-round/
  8. ^ Ingram, Mathew (2011-09-12). "Union Square backs Wattpad to make reading more social". 
  9. ^ https://gigaom.com/2012/06/06/wattpad-raises-17-million-to-become-the-youtube-of-writing/
  10. ^ http://mashable.com/2014/04/08/wattpad-funding/
  11. ^ "Wave Accounting and Wattpad win people's choice awards at CIX". 
  12. ^ "Impact and Deloitte Press Release". 
  13. ^ "Summit Media and Wattpad ink partnership to publish more works by online writers in the Philippines".  
  14. ^ a b http://gigaom.com/2014/04/08/collaborative-writing-platform-wattpad-gets-46m-financing-round-for-global-expansion/
  15. ^ http://www.nytimes.com/2014/03/24/technology/web-fiction-serialized-and-social.html
  16. ^ Rich, Motoko (2009-05-11). "With E-Readers Comes Wider Piracy of Books". The New York Times. 
  17. ^ a b Wattpad – Writer Program .
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