Figment, the writing community catering to young-adult readers, has raised $1 million from an unidentified investor. Figment CEO Jacob Lewistold paidContent that expansion plans include publishing its own works and creating a marketplace where authors and publishers can sell their titles.
On its launch day in December 2010, Figment attracted 4,000 users. The site now counts 35,000 users and 75,000 pieces of writing. In the fall, Figment will release author Blake Nelson‘s Dream School. Meet a Figment author at eBookNewser’s Digital Writer Spotlight today.
Here’s more from the article: “Lewis…said most of the money it’s raised will go to develop new sales, distribution and marketing models. At the end of this month, Figment will launch a writing contest judged by novelist Paolo Coelho, whose novel The Alchemist sold 65 million copies worldwide. Coelho will post the winning story on his blog.”
The community writing site Figment counted 4,000 registered users during its official launch yesterday, building a new site for young adult readers. Today’s guest on the Morning Media Menu was Jacob Lewis, the co-founder and CEO of Figment.
Lewis offered advice for publishers looking to build community and advised readers on how to add their work to Figment. Already more than 3,000 works have been posted on the site.
Press play below to listen. Here’s an excerpt: “When I was a teenager, I wrote a letter to Philip Roth and I never got a response. That’s always sort of bugged me and haunted me. I feel like kids these days don’t stand for that. They expect and demand a response from the authors they love. A lot of young adult writers realize that, and they are looking for a place that can facilitate that. And I think we can be that place.”
This summer, Figment will launch a new mobile platform for YA fiction–bringing the community interaction of Japanese cellphone novels to American teenagers. In the video above, Figment CEO Jacob Lewis explained the idea behind the company.
Here’s more from Figment’s Facebook page: “Figment lets you read and write fiction on your computer or cell phone. We launch in summer 2010. Write yourself in! Figment’s goal is to provide a platform for the promotion and digital distribution of young-adult fiction and to transform the way this material is created and accessed.”
Lewis spoke at BEA’s 7x20x21 event, a BEA presentation discussion curated by Ryan Chapman and Ami Greko. They gave a number of industry professionals seven minutes to present on 20 slides–allowing only 21 seconds to talk about each picture.