ReadItLater just raised $2.5 million to bulk up its content shifting operation while online document site Scribd, a start-up with $26 million in funding, just launched a new reading app that has similar features. Meanwhile Apple is preparing to go live with iOS 5 that also allows users to read web content later.
If you’re Marco Arment founder of Instapaper, known for popularizing the time-shifting reading genre that is now suddenly quite popular, what do you do? Nothing, really.
He told me that even with the new competition and funding news by ReadItLater, he feels no more compelled to take on venture capital.
The whole venture capitalist thing really is getting old to me. I’m glad to see the developer of one my all-time favorite apps taking the high road.