Tuesday, January 31, 2017

Radish Raises $3M For Reading App

Los Angeles-based Radish which develops a service which provides short-form, serialized fiction via iOS and Android, has raised $3M in a seed funding round. The funding came from Greylock, Lowercase Capital, Softbank Next Media Innovation Fund, UTA, Bertelsmann Digital Media Investments (BDMI) and Sherpa Capital, and also includes angels Amy Tan, Sir Peter Bazalgette, Charlie Songhurst, Nicolas Berggruen, Matt Humphrey, Duncan Clark, Jeremy Yap, and others. The company's app lets users see installments of a book, and then make micropayments to read the next installment. The company said its top author is making $13,000 a month on the platform. Seung-Yoon "SY" Lee is the company's founder and CEO.