Media company YourStory has acquired Papyrus Editor, an online e-book editing an publishing platform for an undisclosed amount in an all cash and stock deal. "We want everyone to be able to tell their stories. The acquisition of Papyrus is a significant step towards achieving this objective," said Shradha Sharma, founder and CEO of the company. Papyrus will get access to YourStory’s user base and help in improving its product, said Gaurav Tiwari, the founder of Papyrus. Tiwari will join YourStory as its key technology lead, work with a team of engineers and build YourStory’s technology products, primarily its user generated content platform in Indian languages, slated to launch in January next year. Papyrus lets its users create self-designed e-books, including designing the cover, and can import content from the web or create new content. To sell a book, a user can set a price and click on ‘publish’. Funding: In August, YourStory had raised an undisclosed amount of funding (its first) in a Series A round led by Kalaari Capital and with participation from Qualcomm Ventures, T V Mohandas Pai and Ratan Tata. With this, it launched a tech portal that would publish original stories in various Indian languages starting with Telugu, Bengali, Hindi, Marathi, Kannada and Tamil. The company mentioned then that it would “give every Indian the power to tell their stories in their own language through text, voice or video”, users would be able to sign up and write their own stories to contribute to the platform.…
