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SeedaBook: Crowdfunding in Book Publishing
“Everyone funding their favorite writers” – SeedaBook’s new community publishing model is launched
15th of April 2011 – India – SeedaBook today launched its one long-awaited core business model, a community funding model. Under this model SeedaBook will ask fans to pool fund by buying shares that gets invested in the publishing of promising books. Fans who are readers will rate the writings of the available manuscript and finally buy stocks of these books.
SeedaBook is fixing the inefficiencies of traditional and self publishing with a global social network and crowdfunding. The service includes the tools needed for supporting a book(and the writer) from the ground up, to getting it published. It introduces writerss to fans, experts and other literature enthusiasts, helping them discover common interests and providing new transparent ways of feedback and funding.
The community-fund feature includes a fans leaderboard based on the merit of the readers activities. The most active fans will be rewarded by default stocks of under-publishing books. Apart from that the readers can buy stocks as per their interest and wisdom. They will be financially rewarded when the book begins earning return on investment (ROI) through sales not to mention that they will get a name-embedded hardcopy of the book as well. All decisions are completely transparent so SeedaBook members can always view how successful past and ongoing investments are.
SeedaBook cofounder and CEO said: “Our model gets writers acquainted with the entire investment and publishing process and we are the first to offer this type of peer-to-peer crowdfunding. For our service to have a sustainable future, the cost structure must be kept low and our own interests must clearly align with our members’ interests – so that our success is dependent on the success of other writers, readers and experts in our community.”
SeedaBook cofounder and chairman said: “Early phase funding of books requires new solutions. Publishers are moving their focus to more mature writers, and they are decreasing investments in new writers. Writers want to have more competition and transparency in the publishing market, and business angels require better tools to find good startups and for easier dealmaking. This new model opens totally new opportunities in publishing, and it also offers practical help like transparent term sheets and investment agreements.”
More about the fan funding model
The model encourages writers to start looking at other writers from an investors'(fan) point of view, helping them to improve their own profile and communication. Through their funding process in SeedaBook, startups can also build a global, multilingual and geographically distributed network of industry peers and fans of SeedaBook members, motivated to support their work of art.
For early stage investors, or “funders”, the information that the community decisions provide about noteworthy startups brings a level of transparency not seen before in investing in tech, web and mobile startups.
The patent-pending community fund model is the original core innovation in SeedaBook’s arsenal of unique funding models and the reason behind SeedaBook’s inception. In 2009 the company was also the first to announce a global service-investment model, whereby service providers in the industry can invest in companies using work resources as “sweat equity,” in addition to money.
Everything is free, transparent and community based at SeedaBook. Joining SeedaBook, and the basic features such as building a person profile(as a writer or reader),are free.Writers upload a book and we showcase it. The countdown to grab its 2000 Premium stocks starts immediately. All this and the promotion of his book is free too. We also have managed funds where readers invest on monthly basis. This fund is managed by the best litterateurs of the subject and the success(proceeds of sales) will get distributed in a transparent way. We also have a “Demand it†wing. Fans can demand a book in the demand section and pledge to fund it. The moment the sum required is generated the writers team is selected again based on participatory voting of the shareholders. The chosen writer is signed under contract to complete it.
Following its first five months in public beta, SeedaBook’s community just reached 700 registered users from within the startup and investment communities.
About SeedaBook
SeedaBook is Publisher 2.0, bringing the first truly transparent, international, community-based approach to publishing. SeedaBook can help new, talented writer stars secure initial funding for their book. SeedaBook will not only connect writers with ‘fans’ (investors) to help them discover their common interests, but also provide tools for the process and new transparent ways of getting expert views. SeedaBook international headquarters is located in India.
Press material:
http://www.SeedaBook.com/about
Press contact:
Head of Communications
http://www.SeedaBook.com
press@SeedaBook.com
Twitter: @SeedaBook
Facebook:@SeedaBook LLP
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