iStoryTime Reads $2M Series B
Corporate Finance Partners (CFP) led the funding round.
PLAYA DEL REY, CA, iStoryTime, the largest library of mobile children's book Apps, today is pleased to announce a $2 million Series A investment. The investment will allow the company to quickly expand their domestic and international library of more than 100 books in 80 countries. Plus, the investment will allow the company to expand distribution of the content to additional mobile platforms.
iStoryTime is a brand of FrogDogMedia, LLC based in California.
Venture capital firm Corporate Finance Partners (CFP) led the funding round. The firm, responsible for the $200m sale of Germany's largest online shopping club Brands for Friends to eBay, is also heavily invested in content creation, new media and gaming.
iStoryTime, with its foundation of top-tier licensing partners and high demand children's content such as The Smurfs(R), the current No. 1 Children's book in the Apple App Store, has ambitious plans that CFP recognized and will help facilitate. The investment will accelerate iStoryTime's expansion, enabling the company to further increase its domestic and international reach across more mobile platforms, social media and forge new content partnerships.
"As parents, we're very excited to continue expanding our goal of providing children quality, fun and educational digital entertainment," said Graham Farrar, founder of zuuka Group. "We've established ourselves as a major contender in the children's digital space and our new partnership with Corporate Finance Partners positions us very well to continue our growth and explore more partnership opportunities."
Currently, iStoryTime's bestselling Kung Fu Panda 2 storybook, Transformers Darkside of the Moon Mix & Match app along with several major digital mobile licensing partnerships, including Cartoon Network, Sony Pictures Entertainment, Reader's Digest Children's Books(R) and The Jim Henson Company have made the company a recognized leader in interactive storytelling experience. The extensive library is delivered to the convenience of mobile devices including Apple's iPad, iPhone and iPod touch along with Android and the HP TouchPad, HP's first webOS tablet.
"The exciting growth of the mobile marketplace provides excellent opportunity within the children's content industry," said Jens Munk, Managing Director at Corporate Finance Partners. "iStoryTime makes an excellent addition to our portfolio with its proven track record and is well positioned to take advantage of this mobile entertainment revolution."
The investment finalizes the merger between Santa Barbara-based FrogDogMedia and Germany's zuuka GmbH, which have combined under the zuuka Group name and will continue to publish under their flagship label iStoryTime.
iStoryTime brings the joy of a kids' book to the convenience of the iPhone, iPad and iPod(R) touch. iStoryTime books are illustrated and narrated, so children can enjoy the book even when parents are busy. Best of all, the apps are simple to use because they are designed for kids two-years and up. Pages can be turned automatically or manually depending on the age and preference of the user.
iStoryTime is the perfect way for parents to entertain their children while waiting to go to dinner at a restaurant, on a long airplane or train trip or even when they need a few more minutes to finish grocery shopping. And of course, it's a great way to enjoy a story before bedtime. iStoryTime provides great books to entertain and educated the kids on the go.
iStoryTime - an interactive storytelling experience delivered to the convenience of your mobile device - features a series of illustrated and narrated books created by parents for kids. iStoryTime books have been highlighted in the New York Times, LA Times, CBS Early Show, theiPhoneMom, CNET and is decorated with PTPA Media's Parent Tested Parent Approved Seal of Approval and the Children's Technology Review's Editor's Choice Award. With over 100 titles to choose from including favorites such as Kung Fu Panda, Shrek, How to Train Your Dragon, Peter Pan and Binky the Pink Elephant, iStoryTime books are an excellent tool for both educating and entertaining children ages two years and up. Our storybooks can be enjoyed in several different modes ranging from automatic to manual, depending upon the development and preferences of the user.
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