Storytel was founded in 2005 and became a digital pioneer in the fast-growing global audiobook market. It certainly spurs us in our commitment to investing, developing and creating customized access to the best and most compelling stories and storytelling experiences together with authors, publishers, narrators, readers and listeners", says Åse Ericson, Head of Nordics at Storytel. We are happy and deeply grateful for all the engagement and amazing response we get daily from our users. "Storytel was born in Sweden over 15 years ago and is today synonymous with bookmarket growth in the Nordics. Today, Storytel is happy to announce yet another milestone on its journey of expansion and growth as the company, on 20 July, surpassed 1,000,000 paying subscribers in the Nordics. With an average of 1,626,900 paying customers for the quarter, including an annual Nordic customer base increase of 150,300, the forecast for subscriber growth in the Nordic segment was exceeded. The EQT Public Value advisory team looks forward, pending the Extraordinary General Meeting, to working together with shareholders, board, and management on the next phase of Storytel’s growth journey.On 7 July, Storytel presented its subscriber and revenue development for the second quarter of 2021.
In addition to Storytel, EQT Public Value has previously disclosed positions in Securitas, BHG Group, Storebrand, Biogaia, and AFRY.
MOFIBO STORYTEL FULL
Through shareholder engagement, EQT Public Value aims to work closely with existing shareholders, boards, and management teams in order to allow that companies reach their full potential and deliver shareholder value. Storytel operates in 25 markets around the globe and is headquartered in Stockholm, Sweden.ĮQT Public Value seeks to identify minority investments in public companies with market leading positions, strong management teams and significant potential for top-line and earnings growth. Storytel’s publishing business area is carried out through the audiobook publisher StorySide and acclaimed Nordic publishing houses such as Norstedts, People’s and Gummerus. Storytel’s streaming business is conducted under the brands Storytel and Mofibo.
The Company’s vision is to make the world a more empathetic and creative place with great stories to be shared and enjoyed by anyone, anywhere, and anytime. Storytel is one of the world’s largest subscribed audiobook and e‑book streaming services and offers listening and reading of more than 700,000 titles on a global scale. Storytel, listed on Nasdaq First North has a strong track record of organic and inorganic growth in the large and fast-growing audiobook market. Joakim Rubin, Partner within EQT Public Value Advisory Team, is nominated to join the board of directors, subject to approval of an extraordinary general meeting. Stockholm - EQT is pleased to announce that EQT Public Value (“EQT Public Value”) has acquired 6.6 million shares in Storytel AB (“Storytel” or “the Company”), representing an ownership of close to 10 percent of shares outstanding.
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