Tiger Global Leads $20 Million Series A in Faire

<p><span class&equals;"xn-location"><strong>PALO ALTO<&sol;strong> <&sol;span>&&num;8212&semi; <u>Fable<&sol;u>&comma; a social platform for book clubs and stories&comma; has raised <span class&equals;"xn-money">&dollar;20 million<&sol;span> in a Series A funding round led by Tiger Global with participation from <u>Redpoint Ventures<&sol;u>&comma; <u>Gaingels<&sol;u>&comma; <u>Breyer Capital<&sol;u>&comma; <u>defy&period;vc<&sol;u>&comma; and others&period;<&sol;p>&NewLine;<p>Fable was founded by tech industry veteran <u><span class&equals;"xn-person">Padmasree Warrior<&sol;span><&sol;u> and launched in April&comma; 2021&period; Previously&comma; the company had raised <span class&equals;"xn-money">&dollar;7&period;25 million<&sol;span> in seed funding led by <u>Redpoint Ventures<&sol;u>&period;<&sol;p>&NewLine;<p>The Fable app features book recommendations by tastemakers and offers members a platform to create their book lists&comma; start or join book clubs&comma; and discuss books with other readers while sharing highlights&comma; comments&comma; links&comma; and pictures&period; With ebooks from Big Five publishers and key indies&comma; Fable has nearly a million ebooks available for sale in its <u>webstore<&sol;u>&period;<&sol;p>&NewLine;<p><u>Tiger Global<&sol;u>&comma; an investment firm focused on public and private companies in the global Internet&comma; software&comma; consumer&comma; and financial technology services&comma; led the <span class&equals;"xn-money">&dollar;20 million<&sol;span> financing round&period;<&sol;p>&NewLine;<p>The investment will be used to accelerate growth in consumer and enterprise segments&period; Fable currently hosts hundreds of book clubs including those hosted by notable BookTok influencers including <u>&commat;aymansbooks<&sol;u>&comma; <u>&commat;moongirlreads<&sol;u>&comma; <u>&commat;chamberofsecretbooks<&sol;u>&comma; and many others&period; Fable also hosts premium clubs hosted by <u><span class&equals;"xn-person">LeVar Burton<&sol;span><&sol;u> and <u><span class&equals;"xn-person">Sean Astin<&sol;span><&sol;u>&period;<&sol;p>&NewLine;<p>&&num;8220&semi;Starting with social reading&comma; Fable is poised to be a category-defining company that brings social and content together&comma;&&num;8221&semi; said <span class&equals;"xn-person">Evan Feinberg<&sol;span>&comma; Partner at Tiger Global&period; &&num;8220&semi;We are excited to support the Fable team as they take this next step in their journey&period;&&num;8221&semi;<&sol;p>&NewLine;<p>&&num;8220&semi;We are a pioneer in social reading and are excited to see our community grow by leaps and bounds in 2021&comma;&&num;8221&semi; said <span class&equals;"xn-person">Padmasree Warrior<&sol;span>&comma; founder and CEO of Fable&period; &&num;8220&semi;We are looking forward to expanding the social platform we built&comma; from books to other formats of stories&period; This investment will help us promote reading and stories in service of mental wellness&period; We are thrilled to be the social destination for story lovers and avid readers&&num;8221&semi;<&sol;p>&NewLine;<p>&nbsp&semi;<&sol;p>&NewLine;