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Thursday, 10 July 2014 11:27

Tablo books in big seed funding Featured

By
Tablo founder Ash Davies Tablo founder Ash Davies

Australian e-book publishing startup Tablo, lead by 21-year-old founder Ash Davies, has secured a $400,000 seed funding round from investors.

The way we read and consume books has already changed big time and the way we write them is changing too, with Tablo, a cloud-based writing and publishing platform, finding success quickly.

Tablo announced today that lead investor Paul Reining, former CEO of the Catch Group (which runs huge commerce site Catch of the Day) has joined the startup as a Director and Advisor.

Other investors include Kevin Hale, Partner at Y Combinator, and John Buck, one of the startup’s most successful authors who reinvested his book’s earnings into the business.

The seed funding follows strong organic growth in the company, with 10,000 authors from 100 different countries signing up since its launch in 2012.

In 2013 Tablo was also selected to take part in AngelCube, a mentor-driven startup accelerator program, which only accepts 10 startups a year. Other startups that went through AngelCube include WiFi lightbulb startup LIFX and Bitcoin startup CoinJar.

At age 19, Melburnian Ash Davies founded Tablo in 2012, with an aim to shake up the traditional publishing model.

“Tablo is a place where you can create, share and discover new books. It's an online publishing community that allows authors to connect with readers while they write.

“I started working on Tablo after I struggled to publish my own book. A lot of people think that, because publishing has gone digital, that it's simple. It's still incredibly complicated and expensive though, and it's even harder for an author to have their work discovered.

"We've built the best publishing tool in the world, where publishing a book to major bookstores is as easy as publishing a blog. Authors can drop in a document or write in the cloud and reach the iBookstore and Amazon with a single click.

"The key piece of Tablo though is the underlying social network - the profiles, groups and online communities - that help authors build a following for their work. The next bestseller can now be discovered before it's been published.

“Tablo lives in the cloud. Writers can create their next masterpiece from any browser window or mobile device, anywhere in the world, whenever they want.

“Best of all, authors receive 100% of royalties and have complete control over who can view their work.”

Davies said the funding round will be used to further grow the team and develop new features, and that his startup will now turn its attention to building social community features on the platform, making it eaier  for authors to connect with each other, share their writing with passionate fans, and "make writing a less lonely pursuit."

He told iTWire publishers, like Amazon for example, had too much power.

"Major publishers have too much control in the market," Davies told iTWire. "We're working to shift power back into the hands of authors by giving them readers, giving them a voice, and giving them 100% of their royalties."

"Ash has already proven he has the innovative ability to solve problems and create real commercial opportunities with Tablo”, said Lead investor Paul Reining.

“What really impressed me is his longer term vision for the writing and publishing industry and importantly his ability to execute upon this vision."

Tablo works from the Inspire9 coworking space in Richmond.


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