Storytel raise half billion kroner for Latin America and Asia expansion

While Storytel has been having a rough time in the Swedish publishing media over its variable royalty arrangements, the Stockholm stock exchange has (albeit without much enthusiasm – see below) agreed to a quest to raise an additional half billion kroner ($55.8 million).

Sweden’s Digital runs this story with the headline,

Storytel takes in a half billion – but the stock exchange yawns

In a press release Storytel CEO Jonas Tellander says the proceeds will mainly be used for,

Storytel’s expansionary strategy involving accelerated investments in geographic expansion, in existing markets and the new regions Latin America and Asia.

TNPS was the first English-language publishing industry journal to break the news on Storytel’s Latin America ambitions –

Storytel’s Latin American ambitions. Brazil, Mexico, Argentina and Colombia for 2019?

it’s Asia ambitions –

As Storytel’s 2019 Asia expansion steps up with a Thailand office, TNPS speculates where next for Storytel

and the gathering storm over Storytel’s variable royalties –

Storytel’s royalty model “rigged and manipulated.” Storm brews over Storytel’s privileged agreement with Bonnier