|Allen Lau, Ivan Yuen|
WEBSITE REGISTRATION DATE
17th July, 2006
3+ Million USD
About Wattpad Company
Wattpad is a Canadian multi-platform entertainment company for stories, books and novels published by amateur and established authors & writers globally. Wattpad was founded by Allen Lau and Ivan Yuen in 2006 in Toronto, Ontario. Wattpad is headquartered in Toronto, Ontario, Canada.
On 10th May, 2021, South Korea’s internet conglomerate, Naver and Wattpad, a leading story-telling platform announced that now Naver has completed its acquisition on Wattpad in cash and stock transactions which are valued more than an estimated amount of USD $600 millions. The company is still headquartered in Canada and Co. founder Allen Lau reports to Webtoon’s CEO, Jun Koo Kim.
As per the reports, Wattpad is expected to grow its team by 50 percent in 2021, adding to almost 100 new roles in content, marketing and other parts of the company. As part of the Naver family, Wattpad still focuses on its continued growth, expanding teams and innovative ideas to reward the authors/writers.
History of Wattpad
Read about Wattpad history below and find out the main turning points that brings the major change in the history of Wattpad.
In 2006 – After five years of constantly brainstorming and false starts, Wattpad was born. It was all possible due to Allen Lau’s dream to make reading accessible on mobile devices and his long time friend and colleague, Ivan Yuen. It was started with public domain books like Pride and prejudice. Same year, Wattpad managed to earn $2 dollars from a Google adsense.
In 2011 – Thanks to the launch of the App store, Wattpad was made available on Android, Blackberry and IPhone devices. Also in the year 2010, Wattpad doubled its team ( to 6 full time employees and 4 co-op students). And in 2011, Wattpad managed to attract 1 million registered users, with over $4.1 million of funding.
In 2014 – Wattpad started growing quickly, in the year 2012, Wattpad raised USD $17.3 million. After 2 years, wattpad was named as the top Canadian startup and the founders were awarded with the Ernest and young entrepreneur of the year. All the while, Wattpad surpassed 1 billion minutes on the platform per month. The After book earned the title of the most read book on the Wattpad. The book also became New York’s best seller.
In 2017 – Wattpad continued to grow and soon marked its 400 millionth upload. Wattpad earned many awards such as CIX innovator of the year, Startup Canada’s entrepreneur of the year, Fast company’s top 10 most innovative companies in social media. Wattpad also launched its Wattpad Brand Partnerships, Wattpad Stars Program and the Wattpad studios.
In 2019 – With the launch of Wattpad paid stories, Wattpad started earning more and it became more popular. Wattpad studios even co-produced their first feature length movie After which was based on the Wattpad viral hit. The movie became one of the top indie films of the year. The company also expanded with the opening of its headquarters in Halifax, Nova Scotia.
In 2021 – today what pad has become the world’s most loved storytelling platform where new voices write and share and readers connect with the stories they love. Around 23 billion minutes are spent on Wattpad every month. Wattpad studios has continued to co-produce Wattpad stories for print, television and digital platforms. With their headquarters in Toronto and Nova Scotia, Wattpad has its satellite offices in Los Angeles, Hong Kong, India, New York and Philippines.
Currently, Wattpad is working with webtoon to create a Wattpad webtoon studio.
About Wattpad Services
Wattpad is a global community of around 94 Millions of people which includes 5 Million writers. Wattpad is becoming a global leader in social storytelling platforms. In the year 2019, the company created a new milestone by launching Wattpad’s Paid stories which earned more than million dollars. Along with partnerships, books, movies and TV’s adaption, Wattpad paid stories is one of the growing paths for Wattpad writers to earn money from their work. Wattpad has redefined writing in the new digital era and is creating new ways for Indie authors to create a global audience and earn money.
Wattpad Paid Stories
Wattpad paid stories gives an opportunity to readers to support the stories or the writers they love. Now writers can earn money from their work on Wattpad.
While the majority of the stories on Wattpad will always be free, a small collection of stories will come under this program.
How to purchase coins to unlock Wattpad paid stories?
To read paid stories, readers need to purchase coins and it’s very easy to purchase coins with your Google or Apple account. For this readers have to open the Wattpad app and visit their profile then click on the wallet option to check the balance. Then the readers can select a suitable coin package and enter the app Store or Play Store password and the purchase will be credited to your account. After that, readers can use coins whenever they want.
Wattpad Premium Plans
Wattpad offers two premium plus plans. One is Wattpad Premium and the other is Wattpad Premium Plus.
Wattpad Premium –
This package starts from Rs. 320 for one month, Rs. 1920 for 6 months and Rs. 3180 for a whole year with No add interruptions, unlimited offline stories, exclusive theme colors and bonus coins on purchase. It also offers a 7- day free trial.
Wattpad Premium Plus –
This package starts from Rs. 900 for one month including two paid stories, Rs. 5400 for 6 months including twelve paid stories and Rs. 8100 for a year including twenty four paid stories with No add interruptions, unlimited offline stories, bonus coins on purchase and various theme colors.
About Wattpad Benefits
Read about Wattpad benefits below and know the reasons to use this wonderful website for entertainment.
- Provides Free Entertainment
Those who want to have free entertainment can have access to the local library and can read thousands of stories which are available from across many countries and some different languages.
- Better Writing Skills
Reading Wattpad books enhances the writing skills of the writers and writers can even compare their work with the other writers to check the fluidity and the writing styles to improve their writing skills.
- Expansion of Vocabulary
The more you will read, the more words you gain exposure to and they will naturally find their way into your everyday vocabulary.
- Enhancement of Knowledge
Everything that you read on Wattpad, fills your head with a little bit of information and you never know when this information can become handy to you. Also besides stories you can also find interesting facts on Wattpad about many things.
- Stress Reduction
No matter what is happening in your daily life, once you read a perfect novel it erases all the stress in the reader’s mind. A well written novel allows the readers to relax and let their tensions drain away.