Scribd Secures $9 Million in Series B Financing,Bebo COO George Consagra Joins as President
SAN FRANCISCO ± December 19, 2008 ±
Scribd, Inc. today announced that it hasclosed $9 million in Series B financing led by Charles River Ventures with re-investmentfrom Redpoint Ventures and Kinsey Hills Group. Scribd is the largest social publishingcompany in the world with more than 50 million readers each month and more than50,000 new writings and documents uploaded daily. The additional capital will helpScribd bolster its rapid growth with additional hires and accelerated product development.The company also announced that George Consagra, most recently COO of popular social network Bebo, has joined Scribd as President. He will oversee the expansion of Scribd¶s business operations, including business development, sales, finance andmarketing. As an early executive, Consagra helped Bebo grow its membership from 20million to more than 45 million during his tenure and through the company¶s $850million acquisition by AOL earlier this year. Prior to Bebo, Consagra was an executive atinteractive marketing powerhouse Organic.³George has more than 20 years of experience building great companies and great brands,´ said Trip Adler, CEO and co-founder of Scribd. ³He¶s a brilliant operationalexecutive and we¶re excited to have him join Scribd¶s management team; he will beinstrumental in helping us take the company to the next step.´Rounding out the Scribd leadership team, Bill Tai of
Charles River Ventures will joinGeoff Yang of Redpoint Ventures, as well as co-founders Adler, Jared Friedman andTikhon Bernstam on the company¶s board of directors. Tammy Nam, who led marketingcommunications for social applications developer Slide, also recently joined Scribd asVice President for Marketing.³Scribd¶s growth trajectory in its first year is similar to that of YouTube and Facebook.That, combined with a founding team with excellent instincts and a clear need for Scribd¶s service, makes for an unbeatable combination,´ said George Zachary of CRV,which has also invested in Twitter, Geni, Social Media, Yammer and GoTV. ³We¶relooking forward to more great milestones from Scribd in the coming year.´
About Scribd, Inc.
Scribd was founded on the simple observation that there¶s a writer in all of us. In less than two years,Scribd has become the largest social publishing company in the world with more than 50 million readerseach month and more than 50,000 new documents shared every day. Scribd is changing the way peoplefind, share and publish original writings and documents on the Web. Its innovative document reader technology, iPaper, enables anyone to easily upload PDF, Word, PowerPoint and other document types andshare on Scribd.com or embed on thousands of other websites. Scribd is backed by Charles River Ventures,