[Techtaffy Newsdesk]

Wattpad, a community built around e-books has raised $17.3 million in funding led by Khosla Ventures. The round also included Union Square Ventures, Golden Venture Partners, and Jerry Yang.

Allen Lau (CEO and Co-founder, Wattpad): Not many people know that we’re seeing engagement numbers which rival Pinterest, as we give users a new way to create and be entertained.

Based in Toronto, Wattpad is funded by Union Square Ventures, W Media Ventures and Golden Venture Partners. There are some 5 million stories in 25 languages posted in Wattpad, and over 500,000 new stories are added each month, says the company. There are around 8 million unique monthly visitors and a comment posted every second.

[Image Courtesy: Wattpad]