India: YourStory acquires e-book publishing platform Papyrus Editor in cash, stock deal

Visual from Papyrus Editor website

Media tech firm YourStory Media had acquired Papyrus Editor, an online editor of ebooks, in a cash and stock deal, according to a statement on YourStory website.

The financials of the transaction were, however, not disclosed.

As part of the deal, Papyrus founder Gaurav Tiwari will join YourStory as its key tech lead. He will also help build new products that the media firm is currently working on, including the Indian languages user-generated content (UGC) product that is slated for launch in January 2016.

“What drives us at YourStory every day is the chance to tell stories of doers, people who are shaping their own world and the world around them.The acquisition of Papyrus is a significant step towards achieving this objective,” said YourStory founder and CEO Shradha Sharma.

“I met Gaurav Tiwari – a remarkable entrepreneur – last year, and immediately realized there was an opportunity for great synergy. We knew we shared a similar vision to give everyone the ability to share and communicate through their stories,” she added.

Papyrus is a simple online editor that helps authors create ebooks using a simple, easy-to-use interface. It allows users to edit the cover using a simple drag-and-drop cover editor, import content from the web or create new content as easily as writing a blog post. To put up a book for sale, the author or user simply has to set a price and click ‘publish’.

“Being a part of YourStory will give Papyrus access to a larger user base and help take the product to the next level,” said Tiwari.

Launched in 2008, YourStory claims to have published over 21,000 stories of entrepreneurs, innovators, and change-makers and is available in 13 Indian languages. In August, YourStory raised an undisclosed amount of funding led by Kalaari Capital along with participation from Qualcomm Ventures, TV Mohandas Pai and Ratan Tata.

Also Read: India: News start-up ScoopWhoop Media secures $4m funding from Kalaari Capital

Quintillion Media invests in news portal YouthKiAwaaz

Digital publishing firm Quintype raises $3.25m led by India’s Raghav Bahl

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.