Random House Buys Figment
Random House has acquired Figment, a website where teens come together to read and write online. Figment was founded by Condé Nast’s Jacob Lewis and Dana Goodyear. Figment has over 300,000 registered users that has published nearly 750,000 stories on the website. Figment is also known for offering book recommendations and publishers can to promote their books on the website.
“Random House Children’s Books’ new relationship with Figment supports our ongoing strategy and increasingly important efforts to communicate and engage directly with our readers,” stated Barbara Marcus, president and publisher of RH Children’s.
Jacob Lewis was VP and publishing director of Random House’s Crown since this past July. Prior to founding Figment, Lewis was managing editor of the New York and Condé Nast Portfolio. Goodyear is a staff writer at New Yorker.
[Source: GigaOM]This article was written by Amit Chowdhry. You can follow me at @amitchowdhry or on Google+ at +AmitChowdhry