$8.1 Million in Funding for ‘Apple Approved eBook Aggregator’

A new wave of investors are betting on the future of the iBookstore. The digital distribution company LibreDigital will announce tomorrow that they have secured $8.1 million in funding from new investors at S3 Ventures and from current investors at Adams Capital Management and Triangle Peak Partners.

Earlier this year, the company secured a coveted spot as an “Apple Approved eBook Aggregator” in the iPad iBookstore. In addition to the investors mentioned above, the company also has support from both HarperCollins Publishers and The New York Times Company. The company provides distribution for many platforms, including Barnes & Noble’s Nook, Amazon Kindle, Sony Reader, and Google Editions.

LibreDigital CEO Russell P. Reeder had this statement: “This year, sales of e-books are expected to double to more than $700 million in the U.S. alone … This funding will be used to accelerate the delivery of e-books, and expand our technology offerings to include new solutions that help publishers better promote and sell books to digital consumers.”

Publish date: May 19, 2010 https://dev.adweek.com/digital/8-1-million-in-funding-for-apple-approved-ebook-aggregator/ © 2020 Adweek, LLC. - All Rights Reserved and NOT FOR REPRINT