Jessica Ewing founded Literati to support efforts to improve children’s literacy statistics through its kid’s book clubs. The company raised a $40 million Series B led by Aydin Senkut of Felicis Ventures.
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Ewing built out her team while she fine-tuned the business model. Early in her venture, she raised $12 million in funding led by Shasta Ventures. Initially, the books were non-refundable; it was a simple subscription model. However, they experienced no market traction after six weeks. So they restructured it into a box of multiple books, where the parents could return the books they didn’t like.
Recently, the team launched its Luminary brand for adult book clubs last year. The clubs are curated by notable figures such as activist and Nobel laureate Malala Yousafzai, NBA star Stephen Curry and entrepreneur and philanthropist Sir Richard Branson. Readers receive a print edition of each month’s selection with a note from the curator, a place to discuss the book with other readers and author conversations hosted by the curators....
Ask yourself if you’re pivoting towards the type of person you want to be in the world. Use this as your sanity checkpoint.
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