# Read It Later

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/read-it-later

- Industry: Software
- Headquarters: San Francisco, US
- Website: www.getpocket.com
- Total disclosed funding: $15M
- Latest round: Series B (Apr 14, 2015)
- Investors on record: 9

## About

Read It Later, Inc. operates Pocket, an application that enables users to save articles and discover curated content from across the web for seamless access on multiple devices.Founded in 2007 in San Francisco, US, Read It Later, Inc. developed Pocket, a tool for saving and discovering content online. The company was acquired by Mozilla in February 2017, but specific details regarding changes in strategy are not provided. The founders, Dustin Oliver and Théo Palhol, have a history in the tech sector, but no prior companies are mentioned. The latest funding round was Series B, which raised USD 7.00 mn from investors including Axel Springer Digital Ventures and New Enterprise Associates, bringing the total amount raised to USD 7.00 mn.Pocket is primarily known for its read-it-later application, allowing users to save articles for offline reading and discover curated content aligned with their interests. The app supports multiple platforms, including mobile and desktop, and has evolved to include advanced content curation and recommendation features. Following its acquisition by Mozilla, Pocket has expanded its reach to over a dozen countries and five languages, catering to millions of global users.Pocket generates revenue primarily through subscription services, offering premium plans that enhance user experience with additional features. Users can subscribe for advanced functionalities, while partnerships in content curation further support monetization. Subscription structures cater to diverse user needs, with an automatic cancellation policy for premium subscriptions upon service discontinuation in 2025, allowing the company to maintain a steady revenue stream.Following the acquisition in February 2017, Read It Later, Inc. intends to leverage its recent funding to enhance the Pocket application. Future growth strategies include the expansion into new geographic markets and improving product offerings, although specific new products or release dates are not detailed. The funding will likely be utilized to bolster the app's features, making it more accessible and appealing to a broader audience.

## Funding rounds

- Series B, Apr 14, 2015, $7M — New Enterprise Associates, Foundation Capital, Digital Garage, Inc., Axel Springer Digital Ventures, Sound Ventures, Queensbridge Venture Partners
- Series B, Jul 19, 2012, $5M — Foundation Capital, GV, Baseline Ventures
- Series A, Jul 26, 2011, $2.5M — Foundation Capital, GV, Baseline Ventures, Founder Collective

## Investors

- Foundation Capital (https://capitalatlas.ai/funds/foundation-capital) — Series A, Series B
- GV (https://capitalatlas.ai/funds/gv) — Series A, Series B
- Baseline Ventures (https://capitalatlas.ai/funds/baseline-ventures) — Series A, Series B
- Founder Collective (https://capitalatlas.ai/funds/founder-collective) — Series A
- New Enterprise Associates (https://capitalatlas.ai/funds/new-enterprise-associates) — Series B
- Digital Garage, Inc. — Series B
- Axel Springer Digital Ventures (https://capitalatlas.ai/funds/axel-springer-digital-ventures) — Series B
- Sound Ventures (https://capitalatlas.ai/funds/sound-ventures) — Series B
- Queensbridge Venture Partners (https://capitalatlas.ai/funds/queensbridge-venture-partners) — Series B