Online Library Scribd Raises $3.7 Million

Document sharing site Scribd has raised $3.5 million from Redpoint Ventures. Scribd’s original angel investor, Kinsey Hills Group (Ed Kinsey and Michael Hills, two of the founders of Ariba) which helped get Scribd off the ground with an early infusion of $40,000 also pitched in another $210K in this round, reports SFGate. That puts the money valuation at approximately $17.5 million. Scribd also launched a Facebook widget recently.