This fast-growing magazine startup has raised $31 million and has a huge head start on Apple in a $67 billion market


Shona Ghosh

Readly is a tiny Swedish startup which is confronting Apple in magazine and news subscriptions, just as its Swedish peer Spotify challenged the iPhone giant in music.

Readly is a magazine and newspaper subscription app, charging a £7.99 (or $9.99 in the US) monthly subscription for readers to access more than 4,000 titles.

The startup competes with Apple’s News Plus offering, which also charges $9.99 a month for access to 300 titles.
CEO Maria Hedengren, formerly chief financial officer of iZettle, said the firm grew revenues 55% year on year although it isn’t yet profitable.

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