Canada's Hottest Startup Goes to Hollywood

Wattpad is a startup with a large online community of writers and readers. It faces challenges in monetizing its platform without alienating users. To address this, Wattpad collaborates with brands to create sponsored content and has launched Wattpad Studios to adapt stories into films. Successful writers like Amanda Todd have emerged from the platform. Wattpad is financially backed by major venture capital firms but is not yet profitable. The company is exploring creative ways to generate revenue from its user base.

What role does Wattpad Studios play in the company's strategy?

What is the current financial status of Wattpad, and what efforts are they making to become profitable?