Figment Acquired by Random House

Figment is an online social site exclusively for teen writers and readers, and boasts nearly a half-million members. It is a place where teens can share stories, keep journals, read other teens writing, and scan a huge library of recommended reads. Most of the sites users are aged 13 – 18 years, and Random House Children’s Books has acquired the site.

The acquisition will expand Random’s YA/New Adult readership and allows the publisher to have a direct tie with young readers, as opposed to reading charts and statistics supplied by someone else. “The team who founded Figment created a dynamic community that we will continue to grow and expand, and we are so pleased for the opportunity to continue the conversations with this audience of teens that love young adult books,” said Barbara Marcus, president and publisher, Random House Children’s Books.

Figment will give the publisher insight into what books or journals are consistently accessed and read. Giving them an opportunity to find new young authors, and supply young readers with more of what interests them. When Random House and Penquin books merged earlier this year, Penguin already had a YA social site, BookCountry. There was no mention whether these two teen social media sites will merge.

Additional information from the press release:

The Figment community has become an online hub for teens passionate about creating, discovering, and sharing stories, with the majority of users between the ages of 13 and 18 years old. Among the site’s many features are book recommendations and spotlights from across publishers and over 20,000 different discussion groups and forums. The users of Figment have produced nearly three-quarters of a million stories, a library that is added to every day, and have shown incredible enthusiasm for connection and interaction with a range of books and authors.

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