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WEBook, an online book publishing company, has raised $5million in Venture funding. Eight angel investors led the round with an existing backer Greylock Partners along with a new investor Vertex Venture Capital. The company previously raised a funding of $1 million and $2 million.

With a user base of 500,000, the Bethesda, Md. Company allows users to generate their own books. WEBook serves as a platform where authors, editors and reviewers can collaborate to create and contribute their remarkable work in the form of articles, books, stories, etc. The site works by adopting a definite methodology- you can start with creating a project, inviting friends and gathering feedbacks. The site has adopted an American idol voting system and the article/book with highest votes will be published. The funding will surely help the company to boost its publishing capabilities and enhance its marketing strategy.