Scribd Collects $13M
In its third round of venture financing, San Francisco-based social publishing startup Scribd has raised $13 million. The round was led by MLC Investments of Australia and SVB Capital, according to an announcement yesterday. Existing investors Redpoint Ventures, Charles River Ventures, and Kinsey Hills Group also participated. The company, whose free publishing service allows users to share written documents on the Web in many formats, said it plans to use the money to hire engineers and accelerate development of mobile applications and “multiple revenue-generating products and services.”
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