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Collaborative-writing Platform Wattpad Gets $46m In Financing For Global Expansion

Posted at 6:41AM Wednesday 09 Apr 2014

Wattpad, a collaborative-writing community that helps new authors connect with a community of fans and fellow writers, has closed a new round of financing worth $46 million that co-founder and CEO Allen Lau says will help it expand internationally and support its growing user base. The latest round was led by OMERS Ventures, the venture arm of a large Canadian pension-fund manager, and included August Capital as well as previous backers Khosla Ventures, Union Square and Yahoo co-founder Jerry Yang.

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