eBook Distributor Smashwords Buys Online Self-Publisher BookHabit
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Smashwords, which was one of the first eBook distributors to be have its self-publishing platform included in the new Sony (NYSE: SNE) digital bookstore, has acquired author community site Bookhabit. Terms weren’t disclosed, but a source told paidContent the deal was estimated to be done for under $1 million.
Both companies were founded less than two years ago. The Wellington, New Zealand-based Bookhabit was founded just last year and is focused on self-publishing, in addition to serving as a social net for writers. In the past year, Bookhabit’s 340 authors have collectively published over 600 books. That’s a drop in the bucket compared to the 4,700 eBooks from Smashwords 2,100 authors and publishers.
SEE ALSO: Sony eBook Store Adds Tool For Self-Publishers; Authors Keep At Least 42 Percent Of Revenues
Still, eBooks and self-publishing are growing and the time is right to lay some groundwork if you’re a business that’s riding on the success of e-readers. From that vantage point, this small purchase represents another step in Smashwords extending its platform internationally. Release
Posted In: Media & Publishing, Books, e-readers, Money, M&A & Venture Capital, Mergers & Acquisitions, Countries, Australia & New Zealand
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