Photo - Litnet
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Litnet

The e-book marketplace with a new distribution model

Ukraine, Kyiv city
Market: Entertainment, Another
Stage of the project: Operating business

Date of last change: 14.06.2018
Min investment
$  200.000
0
Total required
$ 400.000
Rating
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Idea

Litnet is literary marketplace which allows authors to monetize their books at any stage of writing.
Our model of distribution decrease the problem of piracy and couldn´t be easily copied by traditional e-book stores (Kindle, iBooks, Tolino). We sell the ebook a step before the traditional ebook stores and get main revenues from sales.

Current Status

Daily visitors - 35000+
Monthly revenue - >$20000
Margin income - ~$5000

Market

•    The US-only e-book market in 2015 is approximately equal to the worldwide digital music market. The E-book market of Great Britain earns as much as mobile games in Great Britain.
•    Low growth on the e-book market means +16% yearly (advanced market of Great Britain). Normal growth starts from +30% (Germany) and +100% (Russia).
•    Despite the growth of e-book sales, the average level of writer’s income in Britain has been decreasing. Professional writers earned £11,000 in 2013 instead of £15,450 in 2005. The non-professional authors did £4.000 (2013) instead of £8.810 (2000).

Problem or Opportunity

As a self-publisher author needs to:
a) publish ebook on the diferent stores (kindle store, ibook, kobo)
b) contact with readers in the social networs (facebooks, twitter)
c) contact with readers in the literary communities (goodreads)
d) maintain his webpage to publish teaser parts of the book

So i's a hardwork but after publising the book writer gets new problem: PIRACY.

Solution (product or service)

We are creating a literary network where every author hasowm page for book publishing, for networking with readers. All these pages are situated in the common marketplace with hge number of readers.

Competitors

E-book stores such as:
Kindle store
LitRes
Ibooks store

Crowd-publishing platforms:
Wattpad
FanFiction

Literary communities:
Goodreads
LiveLib

Advantages or differentiators

We combine best features of all our competitors bulding a literary network where writer may:
- publish books
- network with readers and colleagues
- sale book even in the process of creating pubishing it part-by-part (or publish it for free)

Finance

Sales comission (common for all marketplaces)
Advertising
Social networking (sales of rewards)

Business model

Sales comission (common for all marketplaces)
Advertising
Social networking (sales of rewards)

Money will be spent on

New market penetration

Offer for investor

We propose a company share and strong vision of future exit for both of us (founders and investors)

Won the competition and other awards

2nd place of Startup Battle at Login 2017 (Vilnius 24-26 May 2017)

Product Video

Website address

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Idea
Current Status
Market
Problem or Opportunity
Solution (product or service)
Competitors
Advantages or differentiators
Finance
Invested in previous rounds, $
Business model
Money will be spent on
Offer for investor
Team or Management
Mentors & Advisors
Lead investor
Risks
Incubation/Acceleration programs accomplishment
Won the competition and other awards
Invention/Patent
Photos
Product Video
Website address