29 Jun '15
Russia’s pioneering online self-publishing service, Rideró, has raised $850K to carve out a niche in the European market, announced Rideró board member Alexander Gavrilov.
Rideró is said to enable a user to publish a free high-quality book within minutes and place it for sales in several dozen stores. With the service the individual publisher will then be able to edit the book and its cover, whenever necessary, and bring in expertise from proofreaders, artists, etc.
Rideró aims to bring the automation of publishing to as high a level as possible, enabling any user, whether it’s a poet or business coach, a technical writer or corporate database manager, to create, distribute and promote his or her publications both in digits and on paper. The service’s entry-level options are free.
The funding came from a yet-unnamed private investor at Rideró’s pre-money evaluation of $3.4m. The start-up is expected to funnel the investment into the further development of its technology and the establishing of its European presence. Later this summer Rideró is entering the Polish market, with its German launch slated for this coming fall.
“The money we’ve got will help us make a full-fledged start in a number of European countries. The nearest launch is in Poland where key partnerships have been inked and technical support capabilities put together to assist users. In Europe, the service will be operating under the ridero.eu domain name,” CEO Alexander Kasyanenko said.
Set up in 2013 as an electronic publishing platform for independent authors, Rideró is already a publishing tool for a reported 4,500 Russian-language writers both in Russia and a dozen other countries, including beginners and well-known writers.