penpee.com is a new, upcoming website dedicated to helping aspiring authors earn money by sharing their short stories on the site itself.
It is described as a platform to read and write short stories, and get paid each time someone new read a chapter of your story.
Creators can publish stories that consist up to 8,400 words, spanning over 5 chapters, depending on membership plan and will be paid when readers finish each chapter. This means that authors earn money by the chapter and not by book, so they get to have the flexibility to upload chapters at their own pace.
There are four kinds of writers membership plan:
1. Basic – free membership, maximum of 6000 words spanning over 5 chapters. They earn 45% of the revenue made on chapters.
2. Premium – $7 for 6 months, with the ability to post up to 8400 words, spanning over 7 chapters. They receive 75% revenue.
3. Premium+ – $7 fee for 3 months, and you get to enjoy all premium membership and also be able to promote your fictional books on Amazon to readers on penpee.com by providing sample chapters as teasers.
4. Penpee Prime – $5.99/Monthly. This membership is only available in UK. Penpee prime users enjoy all the benefits of premium + membership and also can choose from mini-series of selected stories to subscribe to. You will be able to follow the story with each series as a booklet delivered to your door three times a month accompanied with free appetizers such as cookies, chocolate, coffee etc. There is also the exclusivity for prime members to read the series online, a week after it has been delivered to them at home.
Readers earn welcome credits to start with and can buy more credits to read stories, or earn them by continued participation on the site, and through referrals and reporting plagiarized stories.
Each credit is worth 0.02 cents, thus making 50 credits equate to one USD. For now it cost 0.06 cents to read a chapter while the whole story would cost between 0.30 cents and 0.42 cents or 15 to 21 credits. You need to have a minimum of 250 credits in order to exchange the credits for money through PayPal.
When asked about the low figure, Tijan Penpee, the CEO of Penpee ltd and the founder of penpee.com, said it is very important to strike the right balance between what is reasonable for users to pay per chapter and what writers are willing to accept for their effort. We want users to enjoy the pleasure of reading without the feel of being charged for it. We want them to be able dive into a story and dive out while not paying more than for what they read. To charge higher would be eroding the pleasure we want them to derive from the adventure and it wouldn’t be appealing to the mass market we want to bring on board.
Penpee hosts short story competitions with cash prizes. So far, they have held two competitions, both with a limit of 2000 words, and with cash prizes of a hundred dollars. The editorial team will select a winning entry from the top five most read, most commented and most reviewed stories.
Any writer of any background who have the ability to create short stories should participate in the website and join the community. Any readers will be welcomed as well to read the growing list of short stories at penpee.com. Amazon writers who have published their work are also encouraged to use the website as a means to promote their books.
All in all, you should definitely give it a try and check out the selection of stories, and write your own!
On a final note, the CEO, Tijan Penpee said he is working to launch a much more robust platform with mobile apps within the next few months and is openly encouraging any angel investor who shares his vision about the concept to reach out.