|Description||Reading training apps|
|Seed, 12/2012 ||$50k|
|Seed, 6/2013 ||$50k|
Fastr is developing subscription-based ebook app. Fastr subscribers will be able to pay a monthly fee for unlimited access to fiction, educational and business books, and can maintain a digital library — similar to what Spotify does for music, and what Netflix does for movies and television shows.
Product Fastr started with an ebook reading application for iPhone and iPad in the end of 2012. It has been focusing on speed reading training and is gathering avid readers, professionals who have to read significant amount of text for work, college and university students and people, who are interested in self improvement. When Fastr has got some traction we understood from our customers, that the real issue is not just reading technology, but the way to discover and access contact. Currently Fastr is in talks with authors and publishers to create our own books catalog.
Market and Traction Year 2012 was the first year when sales of ebooks exceeded paper versions. This is a fundamental shift, which opens new opportunities for Fastr business. There are several players in this field, most recognized being Amazon and Apple. In fact, none of leading players are ready to go away from classical reading standards, where Fastr. Three biggest markets for Fastr app currently are USA, Western Europe and Latin America. These three regions together generate 80% of Fastr user base. Fastr ambition is to be present with the product offering in all three major market segments: adults, students and children. Fastr iOS application has been available in the App Store for 7 months and it has generated more than 200k downloads.
Fastr videoAdded: 7/30/13