Friday, December 19, 2008 gets venture funding, new president

The "social publishing" site, or more specifically the company behind the site, received a major shot in the arm Friday, with the announcement of a new round of funding. In their release "Scribd Secures $9 Million in Series B Financing, Bebo COO George Consagra Joins as President". Also included in the release is the announcement of the addition of high tech executive George Consagra as the company's new president.

Particularly interesting is this funding in the light of depressed venture activity, going along with the economic crisis dominating thinking as 2008 comes to a close. Mike Masnick of techdirt had an interesting post the other day -- see "Venture Capitalists: Buying High, Selling Low".

Back to Scribd specifically for a moment -- back when I covered the company in my May 2008 Observations (see "The YouTube for Documents"), I reported the site was experiencing up to a million visitors a day, equating to 15 to 20 million visitors per month. The current tote is up to four million daily visitors.

Michael Arrington of, via the Washington Post, also has a good recap of the funding along with identificiaton of several new competitors to, Docstoc and Issuu.

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