Amazon is known to have contemplated launching discount stores or similar outlets where it would be selling the millions of unsold goods that end up getting accumulated in its warehouses every year. Those could be either permanent stores operating round the year or pop-up outlets set up in busy locations only during the shopping season.However, it will only be smaller items … [Read more...] about Amazon’s plans to offload unsold goods via discount stores held up by the pandemic
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HarperCollins has purchased Houghton Mifflin Harcourt
Harpercollins has agreed to purchase the consumer publishing arm of Houghton Mifflin Harcourt for $349 million. This would give them access to high-profile novels from authors such as George Orwell, Philip Roth and J.R.R. Tolkien. The sale would allow Boston-based Houghton to pay down debt and focus on its digital-first strategy in education.The acquisition will include the … [Read more...] about HarperCollins has purchased Houghton Mifflin Harcourt
Chapters Indigo had a great holiday season, despite store closures
Indigo Books and Music, the largest bookstore chain in Canada, has a tremendous holiday season. Over the course of the last three months of 2020, the time of year where books sell like crazy, Indigo net profit grew nearly 19% and generated $30.7 million in profit. This was primarily attributed to their e-commerce revenue growing by over 92%, as Indigo enhanced so-called … [Read more...] about Chapters Indigo had a great holiday season, despite store closures
Audiobooks and ebooks are 18% of HarperCollins Revenue
Harpercollins Revenues generated $504 million dollars, which was a 23% increase, in the last three months of 2020. Revenues basically soared due to the Christmas season and everyone buying them as gifts. The bulk of the sales were placed online, at retailers such as Amazon, Barnes and Noble and thousands of other bookstores all over the world.The revenue growth was … [Read more...] about Audiobooks and ebooks are 18% of HarperCollins Revenue
Jeff Bezos is stepping down as CEO of Amazon
Jeff Bezos founded Amazon over 27 years ago when he was working out of our garage. Initially Amazon just sold books, and is still a large part of their business. Amazon said Tuesday that Jeff Bezos is stepping down as CEO later this year and transition to the role of executive chair. He will be replaced by Andy Jassy.Bezos has been Amazon's CEO since its founding in 1995. … [Read more...] about Jeff Bezos is stepping down as CEO of Amazon
Wattpad is being sold to the Korean company NAVER
Toronto-based online storytelling company Wattpad has confirmed with Good e-Reader that they are being sold to NAVER, for $600 million in cash. The South Korean company is best known for their digital comics platform, Webtoons. Webtoon is behind some of the biggest names in webcomics, including Lore Olympus, and has worked with the Jim Henson Company and producers behind hit … [Read more...] about Wattpad is being sold to the Korean company NAVER
Amazon buys planes for the first time ever to expand its air cargo operations
Amazon announced it is buying 11 used Boeing 767-300 planes, providing a major fillip to its air cargo operations. This also marks a change of strategy for the online retail giant since this is the first time it has actually purchased planes. So far, Amazon relied on leased aircraft for its air cargo use.Seven of the planes are being bought from Delta Air Lines, while the … [Read more...] about Amazon buys planes for the first time ever to expand its air cargo operations
Amazon set to become a serious player in podcast space after Wondery acquisition
Amazon announced it has acquired the podcast start-up Wondery, a move that will add more depth to its non-musical offering available via the Amazon Music app. Wondery already has to its credit some popular podcasts such as Dirty John, Dr. Death, Business Wars, and The Shrink Next Door and reaches out to 20 million unique visitors every month. Post the deal, expect to catch up … [Read more...] about Amazon set to become a serious player in podcast space after Wondery acquisition
NetGalley was hacked and bandits made off with user accounts
Netgalley is a company that specializes in sending out early editions of ebooks and audiobooks for people to review, when it is close to the publication date. This is why you will often see your favorite bloggers or newspapers post a synopsis before the book is even released. Netgalley has announced that for the first time they were hacked and all user account information was … [Read more...] about NetGalley was hacked and bandits made off with user accounts
Penguin Random House buys Simon & Schuster
Penguin Random House is one of the largest publishing companies in the world and they have just confirmed that they are going to buy Simon & Schuster for $2.175 billion in cash. The deal is subject to regulatory approval and if the deal closes, Simon & Schuster will continue to run as a separate publishing unit. Jonathan Karp will remain as president and CEO and Dennis … [Read more...] about Penguin Random House buys Simon & Schuster
Penguin Random House, Hachette and Harpercollins most likely to buy S&S
Penguin Random House, Hachette and Harpercollins are the three leading bidders to purchase Simon and Schuster, the 3rd largest publisher in the world. The New York Times is reporting that the sale price is $1.7 billion and the bids must be officially made by Thanksgiving and the deal should be announced a few days later.Simon and Schuster's revenue rose 20% last quarter on … [Read more...] about Penguin Random House, Hachette and Harpercollins most likely to buy S&S
