Toronto publishing platform startup Wattpad and independent publisher Sourcebooks have formed a new partnership in the US that will see the publisher releasing popular Wattpad titles.
The partnership, focusing on Young Adult titles, will see Sourcebooks editing and producing Wattpad-branded editions of stories in print and as e-books, as part of Wattpad's Fan Funding scheme. The books will be distributed through Sourcebook Fire, the publisher's Young Adult imprint.
"This partnership will create substantial value for writers by cross-promoting their work and exposing their stories to millions of young readers, while also satisfying the avid reader’s need for original content. It’s a natural fit, as both Wattpad and Sourcebooks believe in finding innovative models that evolve the digital publishing landscape," said Wattpad CEO Allen Lau.
Fan Funding will allow fans to provide input on character names and vote on jacket designs, and has driven two titles scheduled for release in 2014, My Life with the Walter Boys, a romance by Ali Novak that has been read over 24 million times, and The Cellar by Natasha Preston, a thriller that has been read almost 7 million times.
Wattpad was the winner of Best Overall Canadian Startup for 2011 and is funded by Khosla Ventures, Union Square Ventures, OMERS Ventures, W Media Ventures and Golden Venture Partners. They're also hiring.