About the Company

Reedsy is an online platform that facilitates connections between authors and publishing professionals such as editors, designers, ghostwriters, and translators. It aims to empower authors, particularly in the self-publishing space, by offering access to top-tier freelancers. Since its inception in 2014, the platform has expanded to support over 1,000 projects monthly. Its rigorous curation process ensures only the best freelancers are featured, creating a trusted space for both authors and service providers.

The company currently operates with 38 employees and generates around $2 million in monthly revenue. Beyond its marketplace, Reedsy has embraced technology to develop its own content management and marketing tools, further establishing itself as a leader in the publishing services sector.

Idea Behind Company

The idea for Reedsy originated from Emmanuel, one of the co-founders, who saw an opportunity in the growing self-publishing market and the rise of the freelance economy. Traditional publishing was pushing many skilled professionals out of in-house roles, creating a need for an accessible platform that connects authors with these freelancers.

Ricardo and the team validated the idea by engaging with authors, editors, and industry experts. These early conversations not only shaped Reedsy’s model but also highlighted the importance of curating top-tier professionals for the platform. Their goal was to create a marketplace that bridged the gap between independent authors and the best publishing talent.

Creating the Company

The founders of Reedsy had limited experience in the publishing industry but worked diligently to turn their vision into reality. They began with a simple landing page to gauge interest and attract their initial 2,000 signups. They also designed mockups of the platform, including freelancer profiles and collaboration tools, to showcase their concept to potential investors.

Seedcamp played a crucial role in their journey, providing pre-seed funding and mentorship. This allowed the team to move to London, work together in one flat, and develop a minimum viable product (MVP). Their early focus was on building a user-friendly marketplace and attracting talented freelancers before opening the platform to authors.

Launching the Business

Reedsy’s launch was carried out in stages. Initially, the platform was open only to freelancers to populate the supply side. A month later, authors were allowed to connect with freelancers, but payment and collaboration tools were not yet available. Finally, these features were introduced, enabling Reedsy to generate revenue.

Marketing efforts, especially in the early days, had some missteps. The founders initially neglected SEO, which they later corrected by implementing a comprehensive SEO strategy. They created high-value blog posts, performed keyword research, and built backlinks to improve visibility, which became the main driver of their growth. Other efforts like affiliate marketing and retargeting ads also contributed significantly to customer acquisition.

Earnings

Reedsy has grown significantly since its launch, now generating $2 million in monthly revenue. The platform’s success is driven by its curated network of over 1,500 freelancers and the rapid expansion of its user base. In 2020, the number of quote requests on the platform grew by 65%, while user signups increased by 140%.

The company’s profitability and scalability come from its ability to continually add new services, such as audiobook narrators and website designers, while reducing reliance on third-party software. By building its own tools, Reedsy improved its email open rates and website performance, contributing to its long-term success.