Scribd is a social networking site similar to YouTube except for sharing documents. Anything textual based from PDFs to TXT files. It seems new companies with a twist on proven business models in the social community space continue to steam roll “normal” Web 2.0 valuations. Om Malik has the full scoop on Scribd to report.
It’s nice to see quality startups being funded barely in the 5 digits (12K from Y Combinator). The peer-to-peer funding side of StartupAddict should blossom sapling companies like Scribd into Red Oak trees all day long for budding entrepreneurs.
Hats off to the Scribd founders and congrats on the high valuations.