Following Friday’s modest announcement of Intel‘s takeover of educational textbook start-up Kno, Om Malik reports “well placed sources who were in the know told us that the company sold for $15 million with some retention bonuses for the employees.” This after raising roughly $75 million in equity and another $20 million in debt. He adds that “earlier this year, the company tried and failed to cut a deal with CourseSmart….In order for the two companies to work together, Kno had to take on all of CourseSmart’s liabilities and at the same time honor its contractual obligations. That deal, which was […]
Higher Ed
Intel Buys Kno; Kindle Said to Eye Sweden; Ransom’s Free Resources
Big companies, and big investment, continue to flow towards “ed-tech,” as Intel announced on Friday that it acquired education software company Kno. Intel had previously made a$20 million investment in the company, as part of a $37.5 million round of financing in 2011. Kno started as a hardware company, aiming to make tablets for educational markets, and then shifted to a strategy of helping to digitize, enhance and sell electronic textbooks. Intel says in the announcement: “The acquisition of Kno boosts Intel’s global digital content library to more than 225,000 higher education and K-12 titles through existing partnerships with 75 […]
eNews: Kobo Disabled at Whitcoulls; Scholastic’s Ed-Tech; Scribd’s Subscriber Report; and More
WH Smith still has not restored service to their website in the wake of controversy over some of the Kobo ebooks they were offering for sale. In New Zealand, retailer Whitcoulls “has suspended the sale of eBooks through our website.” They write in a site note: “This suspension will remain in place until we can guarantee that any inappropriate material, that has been available through self published eBooks, has been removed from the Kobo eBook catalogue.” But Australian partner Angus & Robertson is still selling what appears to be the full and unexpurgated Kobo catalog (at least judging by a […]
Corporate: Penguin Tries Book Discovery With “First to Read”; Quercus Moves Sales In-House; And More
Penguin is launching a new book discovery tool, First To Read, that will offer “widely anticipated” excerpts of forthcoming Penguin titles as Hotshot by Julie Garwood, The Signature of All Things by Elizabeth Gilbert, (also available on our own Fall/Winter Buzz Books 2013 sampler), The Fiery Heart by Richelle Mead, Sister Mother Husband Dog by Delia Ephron, The Childhod of Jesus by J. M. Coetzee, Dark Lycan by Christine Feehan, and many more. Those who sign up for First To Read through their Facebook accounts will be able to request digital galleys of available titles, and can also take part […]
eNews: Sony Ends 20p eBook Promotion in UK; DA VINCI CODE eBook Free for a Week; And More
Sony’s 20p discounted price on select ebooks, a promotion that lasted for more than eight months, has ended after the company redesigned its ebookstore. In a statement to the Bookseller Sony said “Discounted 20p pricing is not currently offered on the newly relaunched UK Reader Store. However, pricing is always subject to revision. The duration of our 20p pricing is indicative of our commitment to provide great e-books at exceptionally accessible prices, which is a philosophy we continue to hold.” Now that the steep discount on books such as Yann Martel’s LIFE OF PI and John Lanchester’s CAPITAL (and earlier, […]
Under Fire For Business Model Change, Flat World Says “After Analyzing Our Fall Results, It Was Necessary”
Flat World Knowledge vp Michael Boezi posted a letter to customers about their recent decision to abandon free browser-based access to their textbooks. They write: “As we struggled with the decision, we realized the timing would be an issue for instructors who had made their spring book selections based on free access. We understand your disappointment and frustration. But after analyzing our fall results, it was necessary to implement the change effective January 1, 2013.” He says their “business is viable and growing” though the previous statement makes it sound like they are under some stress, and adds “we stubbornly […]