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TFP seeks funds for growth

02.03.07

Independent publisher The Friday Project (TFP) has launched a bid to raise £750,000 from venture capitalist trusts in order to fund new growth plans.

TFP aims to increase its output from 44 titles this year to around 60 in 2008, and projects a 60% uplift in gross turnover from £2.2m in 2007 to £3.5m in 2008. The 2005 start-up also wants to "strengthen in fiction" by buying an existing imprint. "We've got our eye on a couple," said m.d. and
publishing director Clare Christian.

The company, which last year hired former Waterstone's head buyer Scott Pack as its commercial director, plans to make its "web-to-book" formula "two-way traffic", by bringing in a full-time web developer to develop sites around interesting books with no web presence. "Our unique selling point is
obviously web-to-print, but we want to look at exploring that in the other direction," said Christian. "I'd like to make [our web activity] a more profitable part of what we do."

Financial The Friday Project

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