Papyrus Editor has been acquired by the media tech company, YourStory for an unspecified sum in all cash and stock deal. This deals means that the CEO and founder of Papyrus Editor, Gaurav Tiwari will join YourStory as the key tech lead. He will be responsible for building new technology products especially the Indian Language User-generated content product of YourStory. YourStory is planning to launch this product in January 2016.
Papyrus Editor was founded by Gaurav Tiwari in 2012. The company offers a self-publishing platform for editors that help them create their own e-books by using its simple interface. The editors can also use Papyrus Editor to create cover page, create new content, import content from web or sale their book. Gaurav Tiwari said that the new deal with YourStory will allow them to reach out to a larger audience and take the product to next level.
YourStory was launched by Shardha Sharma in 2008, which has published more than 20,000 stories about entrepreneurs. The company has some other platforms like SocialStory, HerStory, YS TV, YS Research and YS Pages. Currently, YourStory along with its entire platform has 60 Million engaged readers.
Shardha Sharma, founder and CEO of YourStory said, “I met Gaurav Tiwari, who is a remarkable entrepreneur, last year, and immediately realised there was an opportunity for great synergy. We knew we shared a similar vision to give everyone the ability to share and communicate through their stories.”