Inkitt

Inkitt

Reader-powered platform for discovering books

About Inkitt

Simplify's Rating
Why Inkitt is rated
B
Rated B on Competitive Edge
Rated A on Growth Potential
Rated C on Rating Differentiation

Industries

Data & Analytics

Consumer Goods

Entertainment

Company Size

201-500

Company Stage

Series C

Total Funding

$113.7M

Headquarters

San Francisco, California

Founded

2014

Overview

Inkitt operates as a reader-powered publisher, offering a platform where readers can access a diverse range of books for free across various genres like fantasy, sci-fi, romance, and more. The platform allows readers to provide feedback to authors, influencing the development of stories. Authors can submit their works, which Inkitt evaluates based on reader engagement metrics such as reading time and feedback. Successful stories are then offered publishing deals, including distribution on Inkitt's sister app, GALATEA. This data-driven approach helps Inkitt reduce risk by focusing on stories that have already garnered reader interest. The company generates revenue through publishing deals, sharing profits with authors, and potentially from premium content. Inkitt's goal is to connect readers with new literary talent while supporting authors in their publishing journey.

Simplify Jobs

Simplify's Take

What believers are saying

  • Inkitt's $37M funding supports AI development for content optimization.
  • Interactive storytelling trends could enhance Inkitt's reader engagement.
  • Cross-media franchising offers potential for increased brand reach and revenue.

What critics are saying

  • Over-reliance on AI may lead to story homogenization, alienating readers.
  • Rapid TV series expansion could strain resources, affecting quality.
  • Privacy concerns over hyper-personalization may lead to regulatory scrutiny.

What makes Inkitt unique

  • Inkitt uses AI-driven ReadRank to predict bestsellers, enhancing story selection.
  • GalateaTV transforms e-books into short-form TV series, expanding content reach.
  • Inkitt's Author Subscription Program offers authors 100% revenue, incentivizing content creation.

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Funding

Total Funding

$113.7M

Above

Industry Average

Funded Over

4 Rounds

Series C funding is usually for startups that are doing well and are looking for more money to fuel major growth, such as acquiring other companies, expanding into global markets, or launching new product lines. Investors typically include larger venture capital firms and private equity.
Series C Funding Comparison
Below Average

Industry standards

$50M
$40M
Figma
$50M
Medium
$62M
SeatGeek
$100M
Oura

Benefits

401(k) Retirement Plan

Health Insurance

Dental Insurance

Vision Insurance

Growth & Insights and Company News

Headcount

6 month growth

↑ 0%

1 year growth

↓ -3%

2 year growth

↓ -2%
Tech HQ
Mar 4th, 2024
Inkitt: what happens when AI eats its own words?

The latest $37m funding round for the self-publishing platform Inkitt was awarded at least in part due to its intention to use large language models that work on behalf of its authors.

TechCrunch
Feb 27th, 2024
Inkitt, a self-publishing platform using AI to develop bestsellers, books $37M led by Khosla | TechCrunch

Everyone has a story in them, as someone famous once said. A startup called Inkitt believes that it can use AI to turn the strongest of these into

Inkitt
Jan 17th, 2024
Inkitt Launches GalateaTV: Bringing Your Favorite Stories to the Screen

Inkitt launches GalateaTV: bringing your favorite stories to the screen.

Inkitt
Dec 1st, 2023
What is The Inkitt Author Subscription Program? Charge for Your Content and Take Home 100% of What You Make.

For that reason, Inkitt GmbH has launched the Inkitt Author Subscription Program, connecting authors with readers who want to support them and their work.

Inkitt
Jun 30th, 2023
Inkitt

This month, Inkitt GmbH is kicking off the season of fun in the sun by introducing 27 new stories to Galatea !

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